Pella Mid-Atlantic Inc in Beltsville, MD - SBA PPP Loan Data (Paycheck Protection Program)

PPP Loan Data — Pella Mid-Atlantic Inc, Beltsville, MD

Pella Mid-Atlantic Inc

Entity: Corporation

Industry: All Other Specialty Trade Contractors

Location: Beltsville, MD

Pella Mid-Atlantic Inc is a corporation located at 12100 Baltimore Ave Ste 1 in Beltsville, Maryland that received a Coronavirus-related PPP loan from the SBA of $2,967,932.00 in April, 2020.

$ PPP Loan Information
Loan #6928007010

Loan Size:

$2.97M

Jobs Retained:

214

Loan Approved:

2020-04-07

Loan Status:

Ongoing Loan

Lender:

Mercantile Bank of Michigan

Pella Mid-Atlantic Inc in Beltsville, MD received a Paycheck Protection Loan of $2.97M through Mercantile Bank of Michigan, which was approved in April, 2020.

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.

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.

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, Pella Mid-Atlantic Inc's 2019 payroll expenses are estimated to be at least $14.25M.

Based on their reported 214 jobs retained, this equals an estimated average yearly compensation of $66,570 per employee¹

Reported PPP Proceed Usage:

On the PPP application, Pella Mid-Atlantic Inc reported intending to use the proceeds of their PPP loan for the following expenses:

Payroll: $2,287,450
Utilities: $83,494
Rent: $251,494
Health Care: $180,201
Debt Interest: $165,293

Because the loan received by Pella Mid-Atlantic 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 - Pella Mid-Atlantic Inc in Beltsville, MD

Pella Mid-Atlantic Inc
12100 Baltimore Ave Ste 1
Beltsville, MD 20705

Business Industry:
All Other Specialty Trade Contractors
NAICS code 238990

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Prince Georges County, MD — SBA Office 0353 — Congressional District: MD-05

Similar Companies near Beltsville

In the Beltsville area, 19 businesses in the "All Other Specialty Trade Contractors" industry received a PPP loan. These local businesses reported an average of 37 employees (compared to this company's 214) and received an average PPP loan of $435,502 (compared to this company's $2.97M).

Similar Nearby Businesses Who Received PPP Funding:

Luxmea Group
Beltsville, MD

$4,471 PPP Loan

PCM Landscape LLC
Beltsville, MD

$192,405 PPP Loan

Beltsville Custom Cabinet Inc
Beltsville, MD

$19,375 PPP Loan

National Custom Millwork
Beltsville, MD

$23,906 PPP Loan

PCM Services Inc
Beltsville, MD

$2M PPP Loan

Ruby Ivy Consulting LLC Formerly Marsh Mitchell & Huie
Lanham, MD

$19,062 PPP Loan

Campbell Gibbons & Associates Inc
Lanham, MD

$743,477 PPP Loan

Arcade Millwork Inc
Beltsville, MD

$112,500 PPP Loan

PCM Landscape LLC
Beltsville, MD

$198,910 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 77,702 businesses in the "All Other Specialty Trade Contractors" industry received a total of $7.58B 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 9 employees, 96% lower than Pella Mid-Atlantic Inc's reported 214 employees, and received an average PPP loan of $97,534, 97% lower than this company's loan of $2.97M.

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!