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PPP Loan Data — Newman & Company Inc,
Philadelphia, PA
Newman & Company Inc
Entity: Subchapter S Corporation
Industry: Newsprint Mills
Location: Philadelphia, PA
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Newman & Company Inc is a subchapter s corporation located at 6101 Tacony St in Philadelphia, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $2,558,834.00 in April, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
188Loan Approved:
2020-04-09Lender:
CENTRIC BANKNewman & Company Inc received a Paycheck Protection Loan of $2.56M through CENTRIC BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Newman & Company Inc's total 2019 payroll expenses were approximately $12.28M in order to qualify for the PPP loan amount received.
Based on their reported 188 jobs retained, this equals an estimated average yearly compensation of $65,332 per employee1.
Business Information - Newman & Company Inc in Philadelphia, PA
6101 Tacony St
Philadelphia, PA 19135
Business Industry
Newsprint Mills (NAICS code 322122)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: PA-02Industry PPP Comparison Statistics
Nationwide, 27 businesses in the "Newsprint Mills" industry received a total of $8,184,840.00 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 20 employees, 89% lower than Newman & Company Inc's reported 188 employees, and received an average PPP loan of $303,142, 88% lower than this company's loan of $2.56M.
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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