PPP Loan Data — Mmco LLC, Conshohocken, PA
Mmco LLC is a limited liability company (LLC) located at 1312 Ridge Pike in Conshohocken, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $3,039,900.00 in April, 2020.
$ PPP Loan Information
Lender:PNC BANK, NATIONAL ASSOCIATION
Mmco LLC in Conshohocken, PA received a Paycheck Protection Loan of $3.04M through PNC BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Mmco LLC's total 2019 payroll expenses were approximately $14.59M in order to qualify for the PPP loan amount received.
Based on their reported 235 jobs retained, this equals an estimated average yearly compensation of $62,092 per employee1.
Business Information - Mmco LLC in Conshohocken, PA
1312 Ridge Pike
Conshohocken, PA 19428
New Car Dealers (NAICS code 441110)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: PA-04
Similar Companies near Conshohocken
In the Conshohocken area, 7 businesses in the "New Car Dealers" industry received a PPP loan. These local businesses reported an average of 109 employees (compared to this company's 235) and received an average PPP loan of $1,526,287 (compared to this company's $3.04M).
Similar Nearby Businesses Who Received PPP Funding:
Conicelli Nissan Inc
Conshohocken Ford Inc.
Conicelli Enterprises Inc
Conicelli Hyundai Inc
Industry PPP Comparison Statistics
Nationwide, 16,570 businesses in the "New Car Dealers" industry received a total of $10,869,996,969.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 47 employees, 80% lower than Mmco LLC's reported 235 employees, and received an average PPP loan of $656,005, 78% lower than this company's loan of $3.04M.
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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