Penn A Kem LLC in Memphis, TN - SBA PPP Loan Data (Paycheck Protection Program)

PPP Loan Data — Penn A Kem LLC, Memphis, TN

Penn A Kem LLC

Entity: Limited Liability Company (LLC)

Industry: All Other Basic Organic Chemical Manufacturing

Location: Memphis, TN

Penn A Kem LLC is a limited liability company (LLC) located at 3324 Chelsea Ave in Memphis, Tennessee that received a Coronavirus-related PPP loan from the SBA of $2,488,900.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.49M

Jobs Retained:

168

Loan Approved:

2020-04-28

Lender:

WEBSTER BANK, NATIONAL ASSOCIATION

Penn A Kem LLC received a Paycheck Protection Loan of $2.49M through WEBSTER BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Penn A Kem LLC's total 2019 payroll expenses were approximately $11.95M in order to qualify for the PPP loan amount received.

Based on their reported 168 jobs retained, this equals an estimated average yearly compensation of $71,111 per employee¹.

Because the loan received by Penn A Kem LLC 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 - Penn A Kem LLC in Memphis, TN

Penn A Kem LLC
3324 Chelsea Ave
Memphis, TN 38108

Business Industry

All Other Basic Organic Chemical Manufacturing (NAICS code 325199)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: TN-09

Industry PPP Comparison Statistics

Nationwide, 494 businesses in the "All Other Basic Organic Chemical Manufacturing" industry received a total of $174,933,064.00 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 19 employees, 89% lower than Penn A Kem LLC's reported 168 employees, and received an average PPP loan of $354,116, 86% lower than this company's loan of $2.49M.

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.

Search FederalPay's Full PPP Loan Database

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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