PPP Loan Data — Moyer & Son Inc., Souderton, PA
Moyer & Son Inc. is a corporation located at 113 E Reliance Rd in Souderton, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $2,686,100.00 in April, 2020.
$ PPP Loan Information
Lender:PNC BANK, NATIONAL ASSOCIATION
Moyer & Son Inc. received a Paycheck Protection Loan of $2.69M through PNC BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Moyer & Son Inc.'s total 2019 payroll expenses were approximately $12.89M in order to qualify for the PPP loan amount received.
Based on their reported 220 jobs retained, this equals an estimated average yearly compensation of $58,606 per employee1.
Business Information - Moyer & Son Inc. in Souderton, PA
113 E Reliance Rd
Souderton, PA 18964
Farm Supplies Merchant Wholesalers (NAICS code 424910)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: PA-01
Similar Companies near Souderton
In the Souderton area, 3 businesses in the "Farm Supplies Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 96 employees (compared to this company's 220) and received an average PPP loan of $1,220,467 (compared to this company's $2.69M).
Similar Nearby Businesses Who Received PPP Funding:
Mulch Barn LLC
Industry PPP Comparison Statistics
Nationwide, 3,012 businesses in the "Farm Supplies Merchant Wholesalers" industry received a total of $498,453,282.00 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 14 employees, 94% lower than Moyer & Son Inc.'s reported 220 employees, and received an average PPP loan of $165,489, 94% lower than this company's loan of $2.69M.
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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) 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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