PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA
Is Juneteenth Federal Holiday? Learn more about the Juneteenth Federal Holiday. (This is a developing story)

PPP Loan Data — Park America Inc, Bala Cynwyd, PA

ALERT: There are 2 PPP loans for a total of $3.4M in our database for businesses with the name "Park America Inc" in Bala Cynwyd, PA. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Park America Inc
PA

Park America Inc

Entity: Corporation

Industry: Parking Lots and Garages

Location: Bala Cynwyd, PA

Search All PPP Data

Park America Inc is a corporation located at 1 Bala Ave Ste 500 in Bala Cynwyd, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $1,617,702.00 in February, 2021.

The company has reported itself as a White male owned business, and employed at least 262 people during the applicable loan loan period.

$ PPP Loan Information
Loan #3436718410

Loan Size:

$1.62M

Jobs Retained:

262

Loan Approved:

2021-02-05

Loan Status:

Ongoing Loan

Lender:

Loan Source Incorporated

Park America Inc in Bala Cynwyd, PA received a Paycheck Protection Loan of $1.62M through Loan Source Incorporated, which was approved in February, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Park America Inc's 2019 payroll expenses are estimated to be at least $7.76M.

Based on their reported 262 jobs retained, this equals an estimated average yearly compensation of $29,637 per employee1

Reported PPP Proceed Usage:

On the PPP application, Park America Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,617,699
  • Utilities: $1

Business Information - Park America Inc in Bala Cynwyd, PA

Park America Inc
1 Bala Ave Ste 500
Bala Cynwyd, PA 19004

Business Industry:
Parking Lots and Garages
NAICS code 812930

Business Owner Demographics

Race: White

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Montgomery County, PA — SBA Office 0303 — Congressional District: PA-04

Similar Companies near Bala Cynwyd

In the Bala Cynwyd area, 3 businesses in the "Parking Lots and Garages" industry received a PPP loan. These local businesses reported an average of 247 employees (compared to this company's 262) and received an average PPP loan of $1,167,619 (compared to this company's $1.62M).

Similar Nearby Businesses Who Received PPP Funding:

Palm Beach Parking Inc
Bala Cynwyd, PA

$100,155 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 3,666 businesses in the "Parking Lots and Garages" industry received a total of $469.61M 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 21 employees, 92% lower than Park America Inc's reported 262 employees, and received an average PPP loan of $128,098, 92% lower than this company's loan of $1.62M.

SBA PPP loan data, payroll data, and salaries for Park America, Inc
PA

Park America, Inc

Entity: Corporation

Industry: Parking Lots and Garages

Location: Bala Cynwyd, PA

Search All PPP Data

Park America, Inc is a corporation located at 1 Bala Avenue, Suite 500 in Bala Cynwyd, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $1,785,000.00 in April, 2020.

The company has reported itself as a White male owned business, and employed at least 368 people during the applicable loan loan period.

$ PPP Loan Information
Loan #6710597009

Loan Size:

$1.79M

Jobs Retained:

368

Loan Approved:

2020-04-07

Loan Status:

Paid in Full or Forgiven

Lender:

Wilmington Savings Fund Society, FSB

Park America, Inc in Bala Cynwyd, PA received a Paycheck Protection Loan of $1.79M through Wilmington Savings Fund Society, FSB, which was approved in April, 2020.

This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in December, 2020.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Park America, Inc's 2019 payroll expenses are estimated to be at least $8.57M.

Based on their reported 368 jobs retained, this equals an estimated average yearly compensation of $23,283 per employee1

Reported PPP Proceed Usage:

On the PPP application, Park America, Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,785,000

Business Information - Park America, Inc in Bala Cynwyd, PA

Park America, Inc
1 Bala Avenue, Suite 500
Bala Cynwyd, PA 19004

Business Industry:
Parking Lots and Garages
NAICS code 812930

Business Owner Demographics

Race: White

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Montgomery County, PA — SBA Office 0303 — Congressional District: PA-04

Similar Companies near Bala Cynwyd

In the Bala Cynwyd area, 3 businesses in the "Parking Lots and Garages" industry received a PPP loan. These local businesses reported an average of 247 employees (compared to this company's 368) and received an average PPP loan of $1,167,619 (compared to this company's $1.79M).

Similar Nearby Businesses Who Received PPP Funding:

Palm Beach Parking Inc
Bala Cynwyd, PA

$100,155 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 3,666 businesses in the "Parking Lots and Garages" industry received a total of $469.61M 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 21 employees, 94% lower than Park America, Inc's reported 368 employees, and received an average PPP loan of $128,098, 93% lower than this company's loan of $1.79M.

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. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. 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.


Have FederalPay.org's open data tools been valuable? Consider donating!

** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/park-america-inc-bala-cynwyd-pa