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PPP Loan Data — Hannon Partnership, Pen Argyl, PA

SBA PPP loan data, payroll data, and salaries for Hannon Partnership

FRANCHISE

PA

Hannon Partnership

Entity: Partnership

Industry: Pet and Pet Supplies Stores

Franchise: Pet Supplies Plus

Location: Pen Argyl, PA

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Hannon Partnership is a partnership located at 1310 Blue Valley Dr in Pen Argyl, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $25,303.00 in April, 2020. This business is a Pet Supplies Plus franchise.

The company has reported itself as a White male owned business, and employed at least ten people during the applicable loan loan period.

$ PPP Loan Information
Loan #3461497302

Loan Size:

$25,303

Jobs Retained:

10

Loan Approved:

2020-04-29

Loan Status:

Ongoing Loan

Lender:

First Bank of the Lake

Hannon Partnership in Pen Argyl, PA received a Paycheck Protection Loan of $25,303 through First Bank of the Lake, which was approved in April, 2020.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

Based on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, Hannon Partnership's 2019 payroll expenses are estimated to be at least $121,454.

Based on their reported 10 jobs retained, this equals an estimated average yearly compensation of $12,145 per employee1

Reported PPP Proceed Usage:

On the PPP application, Hannon Partnership reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $25,303

Business Information - Hannon Partnership in Pen Argyl, PA

Hannon Partnership
1310 Blue Valley Dr
Pen Argyl, PA 18072

Business Industry:
Pet and Pet Supplies Stores
NAICS code 453910

Business Owner Demographics

Race: White

Ethnicity: Unreported

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age:

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Northampton County, PA — SBA Office 0303 — Congressional District: PA-07

Industry PPP Comparison Statistics

Nationwide, 5,559 businesses in the "Pet and Pet Supplies Stores" industry received a total of $268.67M in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.

PPP recipients in this industry report an average of 8 employees, 20% lower than Hannon Partnership's reported 10 employees, and received an average PPP loan of $48,330, 91% higher than this company's loan of $25,303.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.

All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

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Footnotes & Information

1. Estimations for informational purposes only. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.


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Source: www.federalpay.org/paycheck-protection-program/hannon-partnership-pen-argyl-pa