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PPP Loan Data — Joy Cone Company, Hermitage, PA

SBA PPP loan data, payroll data, and salaries for Joy Cone Company
PA

Joy Cone Company

Entity: Corporation

Industry: Cookie and Cracker Manufacturing

Location: Hermitage, PA

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Joy Cone Company is a corporation located at 3435 Lamor Rd in Hermitage, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $10,000,000.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$10M

Jobs Retained:

500

Loan Approved:

2020-04-08

Lender:

BMO HARRIS BANK NATIONAL ASSOCIATION

Joy Cone Company in Hermitage, PA received a Paycheck Protection Loan of $10M through BMO HARRIS BANK NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Joy Cone Company's total 2019 payroll expenses were approximately $48M in order to qualify for the PPP loan amount received.

Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $96,000 per employee1.

Because the loan received by Joy Cone Company 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 - Joy Cone Company in Hermitage, PA

Joy Cone Company
3435 Lamor Rd
Hermitage, PA 16148

Business Industry

Cookie and Cracker Manufacturing (NAICS code 311821)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: PA-16

Industry PPP Comparison Statistics

Nationwide, 368 businesses in the "Cookie and Cracker Manufacturing" industry received a total of $67,418,209.00 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 20 employees, 96% lower than Joy Cone Company's reported 500 employees, and received an average PPP loan of $183,202, 98% lower than this company's loan of $10M.

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/joy-cone-company-hermitage-pa