PPP Loan Data — Orefield Cold Storage & Distribution Center, Inc, Orefield, PA
Orefield Cold Storage & Distribution Center, Inc is a corporation located at 3824 Rt 309 in Orefield, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $2,403,575.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Fulton Bank, National Association
Orefield Cold Storage & Distribution Center, Inc in Orefield, PA received a Paycheck Protection Loan of $2.4M through Fulton Bank, National Association, which was approved in April, 2020.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
Based on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, Orefield Cold Storage & Distribution Center, Inc's 2019 payroll expenses are estimated to be at least $11.54M.
Based on their reported 186 jobs retained, this equals an estimated average yearly compensation of $62,028 per employee1
Reported PPP Proceed Usage:
On the PPP application, Orefield Cold Storage & Distribution Center, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,922,860
- Utilities: $250,715
- Mortgage Interest: $35,000
- Health Care: $195,000
Business Information - Orefield Cold Storage & Distribution Center, Inc in Orefield, PA
3824 Rt 309
Orefield, PA 18069
Refrigerated Warehousing and Storage
NAICS code 493120
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 565 businesses in the "Refrigerated Warehousing and Storage" industry received a total of $136.57M in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 24 employees, 87% lower than Orefield Cold Storage & Distribution Center, Inc's reported 186 employees, and received an average PPP loan of $241,724, 90% lower than this company's loan of $2.4M.
FederalPay's PPP Information Policy
Footnotes & Information
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