PPP Loan Data — Modern Group LTD, Bristol, PA
Modern Group LTD
Entity: Subchapter S Corporation
Location: Bristol, PATweet This • Search All PPP Data
Modern Group LTD is a subchapter s corporation located at 2501 Durham Rd in Bristol, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $4,657,100.00 in April, 2020.
$ PPP Loan Information
Lender:PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION
Modern Group LTD received a Paycheck Protection Loan of $4.66M through PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Modern Group LTD's total 2019 payroll expenses were approximately $22.35M in order to qualify for the PPP loan amount received.
Based on their reported 262 jobs retained, this equals an estimated average yearly compensation of $85,321 per employee1.
Business Information - Modern Group LTD in Bristol, PA
2501 Durham Rd
Bristol, PA 19007
Industrial Machinery and Equipment Merchant Wholesalers (NAICS code 423830)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: PA-01
Similar Companies near Bristol
In the Bristol area, 4 businesses in the "Industrial Machinery and Equipment Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 79 employees (compared to this company's 262) and received an average PPP loan of $1,388,300 (compared to this company's $4.66M).
Similar Nearby Businesses Who Received PPP Funding:
Huntingdon Valley, PA
JDT Petroleum Equipment, Inc.
Huntingdon Valley, PA
Industry PPP Comparison Statistics
Nationwide, 7,320 businesses in the "Industrial Machinery and Equipment Merchant Wholesalers" industry received a total of $1,713,685,837.00 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 15 employees, 94% lower than Modern Group LTD's reported 262 employees, and received an average PPP loan of $234,110, 95% lower than this company's loan of $4.66M.
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