PPP Loan Data — Keystone Property Group Inc, Conshohocken, PA
Keystone Property Group Inc is a corporation located at 125 E Elm Street Suite 400 in Conshohocken, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $2,099,390.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 90 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:TD Bank, National Association
Keystone Property Group Inc in Conshohocken, PA received a Paycheck Protection Loan of $2.1M through TD Bank, National Association, which was approved in April, 2020.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 101. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
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, Keystone Property Group Inc's 2019 payroll expenses are estimated to be at least $10.08M (not accounting for salary amounts > $100k).
Because the 90 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Reported PPP Proceed Usage:
On the PPP application, Keystone Property Group Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,099,390
Business Information - Keystone Property Group Inc in Conshohocken, PA
125 E Elm Street Suite 400
Conshohocken, PA 19428
Offices of Real Estate Agents and Brokers
NAICS code 531210
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Conshohocken
In the Conshohocken area, 39 businesses in the "Offices of Real Estate Agents and Brokers" industry received a PPP loan. These local businesses reported an average of 6 employees (compared to this company's 90) and received an average PPP loan of $107,125 (compared to this company's $2.1M).
Similar Nearby Businesses Who Received PPP Funding:
Terence D Scollin
The Facchine Group
Entourage Elite Holdings LLC
Realty Group PA II LP
Legend Properties Inc
Industry PPP Comparison Statistics
Nationwide, 255,794 businesses in the "Offices of Real Estate Agents and Brokers" industry received a total of $5.75B in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 2 employees, 98% lower than Keystone Property Group Inc's reported 90 employees, and received an average PPP loan of $22,469, 99% lower than this company's loan of $2.1M.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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