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PPP Loan Data — Highland Tank LLC, Stoystown, PA

SBA PPP loan data, payroll data, and salaries for Highland Tank LLC
PA

Highland Tank LLC

Entity: Limited Liability Company (LLC)

Industry: Metal Tank (Heavy Gauge) Manufacturing

Location: Stoystown, PA

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Highland Tank LLC is a limited liability company (LLC) located at 1 Highland Rd in Stoystown, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $6,082,900.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$6.08M

Jobs Retained:

438

Loan Approved:

2020-04-04

Lender:

PNC BANK, NATIONAL ASSOCIATION

Highland Tank LLC in Stoystown, PA received a Paycheck Protection Loan of $6.08M through PNC BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Highland Tank LLC's total 2019 payroll expenses were approximately $29.2M in order to qualify for the PPP loan amount received.

Based on their reported 438 jobs retained, this equals an estimated average yearly compensation of $66,662 per employee1.

Because the loan received by Highland Tank LLC is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Highland Tank LLC in Stoystown, PA

Highland Tank LLC
1 Highland Rd
Stoystown, PA 15563

Business Industry

Metal Tank (Heavy Gauge) Manufacturing (NAICS code 332420)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: PA-13

Industry PPP Comparison Statistics

Nationwide, 294 businesses in the "Metal Tank (Heavy Gauge) Manufacturing" industry received a total of $166,175,006.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 39 employees, 91% lower than Highland Tank LLC's reported 438 employees, and received an average PPP loan of $565,221, 91% lower than this company's loan of $6.08M.

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, and is published unmodified, as provided by the SBA.

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Footnotes & Information

1. 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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/highland-tank-llc-stoystown-pa