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PPP Loan Data — Movers Specialty Service, Inc, Montgomeryville, PA

SBA PPP loan data, payroll data, and salaries for Movers Specialty Service, Inc
PA

Movers Specialty Service, Inc

Entity: Corporation

Industry: Packing and Crating

Location: Montgomeryville, PA

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Movers Specialty Service, Inc is a corporation located at 211 Commerce Dr in Montgomeryville, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $2,860,400.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.86M

Jobs Retained:

180

Loan Approved:

2020-04-05

Lender:

PNC BANK, NATIONAL ASSOCIATION

Movers Specialty Service, Inc in Montgomeryville, PA received a Paycheck Protection Loan of $2.86M through PNC BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Movers Specialty Service, Inc's total 2019 payroll expenses were approximately $13.73M in order to qualify for the PPP loan amount received.

Based on their reported 180 jobs retained, this equals an estimated average yearly compensation of $76,277 per employee1.

Because the loan received by Movers Specialty Service, 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 - Movers Specialty Service, Inc in Montgomeryville, PA

Movers Specialty Service, Inc
211 Commerce Dr
Montgomeryville, PA 18936

Business Industry

Packing and Crating (NAICS code 488991)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: PA-01

Similar Companies near Montgomeryville

In the Montgomeryville area, 2 businesses in the "Packing and Crating" industry received a PPP loan. These local businesses reported an average of 98 employees (compared to this company's 180) and received an average PPP loan of $1,528,218 (compared to this company's $2.86M).

Similar Nearby Businesses Who Received PPP Funding:

Complete Packaging, Inc
Montgomeryville, PA

$196,035 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 746 businesses in the "Packing and Crating" industry received a total of $94,740,386.00 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 13 employees, 93% lower than Movers Specialty Service, Inc's reported 180 employees, and received an average PPP loan of $126,998, 96% lower than this company's loan of $2.86M.

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/movers-specialty-service-inc-montgomeryville-pa