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PPP Loan Data — Northeastern Supply Inc, Baltimore, MD

SBA PPP loan data, payroll data, and salaries for Northeastern Supply Inc
MD

Northeastern Supply Inc

Entity: Corporation

Industry: Plumbing and Heating Equipment and Supplies (Hydronics) Merchant Wholesalers

Location: Baltimore, MD

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Northeastern Supply Inc is a corporation located at 8323 Pulaski Hwy in Baltimore, Maryland that received a Coronavirus-related PPP loan from the SBA of $3,200,542.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.2M

Jobs Retained:

398

Loan Approved:

2020-04-15

Lender:

BANK OF AMERICA, NATIONAL ASSOCIATION

Northeastern Supply Inc in Baltimore, MD received a Paycheck Protection Loan of $3.2M through BANK OF AMERICA, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Northeastern Supply Inc's total 2019 payroll expenses were approximately $15.36M in order to qualify for the PPP loan amount received.

Based on their reported 398 jobs retained, this equals an estimated average yearly compensation of $38,600 per employee1.

Because the loan received by Northeastern Supply 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 - Northeastern Supply Inc in Baltimore, MD

Northeastern Supply Inc
8323 Pulaski Hwy
Baltimore, MD 21237

Business Industry

Plumbing and Heating Equipment and Supplies (Hydronics) Merchant Wholesalers (NAICS code 423720)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MD-02

Industry PPP Comparison Statistics

Nationwide, 2,431 businesses in the "Plumbing and Heating Equipment and Supplies (Hydronics) Merchant Wholesalers" industry received a total of $601,862,879.00 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 16 employees, 96% lower than Northeastern Supply Inc's reported 398 employees, and received an average PPP loan of $247,578, 92% lower than this company's loan of $3.2M.

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.

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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/northeastern-supply-inc-baltimore-md