PPP Loan Data — Penn Power Group, LLC, Philadelphia, PA
Penn Power Group, LLC
Entity: Limited Liability Company (LLC)
Location: Philadelphia, PATweet This • 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
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.
Business Information - Penn Power Group, LLC in Philadelphia, PA
8330 State Rd
Philadelphia, PA 19136
Motor Vehicle Supplies and New Parts Merchant Wholesalers (NAICS code 423120)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional 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).
Similar Nearby Businesses Who Received PPP Funding:
Xtreme Auto Body And Paint LLC
E.T.G. Auto Supply Inc.
Pryor Auto Electric Inc
B Orlando Co LLC
Eastern Surplus And Equipment Co.
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.
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