PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Penn Power Group, LLC, Philadelphia, PA

SBA PPP loan data, payroll data, and salaries for Penn Power Group, LLC
PA

Penn Power Group, LLC

Entity: Limited Liability Company (LLC)

Industry: Motor Vehicle Supplies and New Parts Merchant Wholesalers

Location: Philadelphia, PA

Search All PPP Data

Penn Power Group, LLC is a limited liability company (LLC) located at 8330 State Rd in Philadelphia, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $9,281,800.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$9.28M

Jobs Retained:

500

Loan Approved:

2020-04-08

Lender:

FIRST COMMONWEALTH BANK

Penn Power Group, LLC received a Paycheck Protection Loan of $9.28M through FIRST COMMONWEALTH BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Penn Power Group, LLC's total 2019 payroll expenses were approximately $44.55M in order to qualify for the PPP loan amount received.

Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $89,105 per employee1.

Because the loan received by Penn Power Group, 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 Power Group, LLC in Philadelphia, PA

Penn Power Group, LLC
8330 State Rd
Philadelphia, PA 19136

Business Industry

Motor Vehicle Supplies and New Parts Merchant Wholesalers (NAICS code 423120)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: PA-02

Similar Companies near Philadelphia

In the Philadelphia area, 6 businesses in the "Motor Vehicle Supplies and New Parts Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 92 employees (compared to this company's 500) and received an average PPP loan of $1,635,058 (compared to this company's $9.28M).

Industry PPP Comparison Statistics

Nationwide, 4,042 businesses in the "Motor Vehicle Supplies and New Parts Merchant Wholesalers" industry received a total of $644,135,263.00 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 13 employees, 97% lower than Penn Power Group, LLC's reported 500 employees, and received an average PPP loan of $159,361, 98% lower than this company's loan of $9.28M.

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.


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/penn-power-group-llc-philadelphia-pa