Moldcable Inc in Voorhees Township, NJ - SBA PPP Loan Data (Paycheck Protection Program)

PPP Loan Data — Moldcable Inc, Voorhees Township, NJ

Moldcable Inc

Entity: Corporation

Industry: Cable and Other Subscription Programming

Location: Voorhees Township, NJ

Moldcable Inc is a corporation located at 300 W Somerdale Rd Suite 5 in Voorhees Township, New Jersey that received a Coronavirus-related PPP loan from the SBA of $3,726,400.00 in May, 2020.

$ PPP Loan Information

Loan Size:

$3.73M

Jobs Retained:

0 Unreported

Loan Approved:

2020-05-01

Lender:

WELLS FARGO BANK, NATIONAL ASSOCIATION

Moldcable Inc in Voorhees Township, NJ received a Paycheck Protection Loan of $3.73M through WELLS FARGO BANK, NATIONAL ASSOCIATION, which was approved in May, 2020.

Based on standard PPP eligibility rules, Moldcable Inc's total 2019 payroll expenses were approximately $17.89M in order to qualify for the PPP loan amount received.

Unlike most businesses, Moldcable 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.

Because the loan received by Moldcable Inc 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 - Moldcable Inc in Voorhees Township, NJ

Moldcable Inc
300 W Somerdale Rd Suite 5
Voorhees Township, NJ 8043

Business Industry

Cable and Other Subscription Programming (NAICS code 515210)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: NJ-01

Industry PPP Comparison Statistics

Nationwide, 558 businesses in the "Cable and Other Subscription Programming" industry received a total of $116,725,177.00 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, and received an average PPP loan of $209,185, 94% lower than this company's loan of $3.73M.

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.

Search FederalPay's Full PPP Loan Database

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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