PPP Loan Data — Horwith Truck, Inc, Northampton, PA
Horwith Truck, Inc is a corporation located at 1449 Nor Bath Blvd in Northampton, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $1,961,900.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:First Northern Bank and Trust Company
Horwith Truck, Inc in Northampton, PA received a Paycheck Protection Loan of $1.96M through First Northern Bank and Trust Company, 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
Understanding Payroll Estimates Based On PPP Amount
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, Horwith Truck, Inc's 2019 payroll expenses are estimated to be at least $9.42M.
Based on their reported 135 jobs retained, this equals an estimated average yearly compensation of $69,756 per employee1
Reported PPP Proceed Usage:
On the PPP application, Horwith Truck, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,961,900
Business Information - Horwith Truck, Inc in Northampton, PA
1449 Nor Bath Blvd
Northampton, PA 18067
General Freight Trucking, Local
NAICS code 484110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Northampton
In the Northampton area, 9 businesses in the "General Freight Trucking, Local" industry received a PPP loan. These local businesses reported an average of 21 employees (compared to this company's 135) and received an average PPP loan of $278,291 (compared to this company's $1.96M).
Similar Nearby Businesses Who Received PPP Funding:
JSR Trucking LLC
Frantz Brothers, Incorporated
Moyer Transport LLC
New Tripoli, PA
New Tripoli, PA
Salvation And Praise Trucking LLC
Baljit Singh Gill
Industry PPP Comparison Statistics
Nationwide, 175,867 businesses in the "General Freight Trucking, Local" industry received a total of $6.6B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 4 employees, 97% lower than Horwith Truck, Inc's reported 135 employees, and received an average PPP loan of $37,520, 98% lower than this company's loan of $1.96M.
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Footnotes & Information
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