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PPP Loan Data — Interstate Chemical Company Inc,
Hermitage, PA
Interstate Chemical Company Inc
Entity: Corporation
Industry: Other Chemical and Allied Products Merchant Wholesalers
Location: Hermitage, PA
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Interstate Chemical Company Inc is a corporation located at 2797 Freedland Road in Hermitage, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $4,342,600.00 in April, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
0 UnreportedLoan Approved:
2020-04-12Lender:
PNC BANK, NATIONAL ASSOCIATIONInterstate Chemical Company Inc in Hermitage, PA received a Paycheck Protection Loan of $4.34M through PNC BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Interstate Chemical Company Inc's total 2019 payroll expenses were approximately $20.84M in order to qualify for the PPP loan amount received.
Unlike most businesses, Interstate Chemical Company Inc's PPP data does not report the number of jobs retained by their receipt of the Paycheck Protection Loan (some banks did not release this infomation from their loan applications). Without this data, per-employee payrolls for this company cannot be estimated.
Business Information - Interstate Chemical Company Inc in Hermitage, PA
2797 Freedland Road
Hermitage, PA 16148
Business Industry
Other Chemical and Allied Products Merchant Wholesalers (NAICS code 424690)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: PA-16Similar Companies near Hermitage
In the Hermitage area, 2 businesses in the "Other Chemical and Allied Products Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 0 employees (compared to this company's 0) and received an average PPP loan of $2,333,400 (compared to this company's $4.34M).
Similar Nearby Businesses Who Received PPP Funding:
Alpont LLC
Hermitage, PA
Industry PPP Comparison Statistics
Nationwide, 2,140 businesses in the "Other Chemical and Allied Products Merchant Wholesalers" industry received a total of $406,941,257.00 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 12 employees, and received an average PPP loan of $190,159, 96% lower than this company's loan of $4.34M.
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.
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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