PPP Loan Data — Penn Stainless Products Inc, Quakertown, PA
Penn Stainless Products Inc
Entity: Subchapter S Corporation
Location: Quakertown, PATweet This • Search All PPP Data
Penn Stainless Products Inc is a subchapter s corporation located at 190 Kelly Road in Quakertown, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $3,134,905.00 in April, 2020.
$ PPP Loan Information
Lender:MANUFACTURERS AND TRADERS TRUST COMPANY
Penn Stainless Products Inc in Quakertown, PA received a Paycheck Protection Loan of $3.13M through MANUFACTURERS AND TRADERS TRUST COMPANY, which was approved in April, 2020.
Based on standard PPP eligibility rules, Penn Stainless Products Inc's total 2019 payroll expenses were approximately $15.05M in order to qualify for the PPP loan amount received.
Based on their reported 200 jobs retained, this equals an estimated average yearly compensation of $75,238 per employee1.
Business Information - Penn Stainless Products Inc in Quakertown, PA
190 Kelly Road
Quakertown, PA 18951
Metal Service Centers and Other Metal Merchant Wholesalers (NAICS code 423510)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: PA-01
Similar Companies near Quakertown
In the Quakertown area, 2 businesses in the "Metal Service Centers and Other Metal Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 109 employees (compared to this company's 200) and received an average PPP loan of $1,777,453 (compared to this company's $3.13M).
Similar Nearby Businesses Who Received PPP Funding:
K&H Technologies Inc
Industry PPP Comparison Statistics
Nationwide, 2,691 businesses in the "Metal Service Centers and Other Metal Merchant Wholesalers" industry received a total of $697,432,843.00 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 18 employees, 91% lower than Penn Stainless Products Inc's reported 200 employees, and received an average PPP loan of $259,172, 92% lower than this company's loan of $3.13M.
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, and is published unmodified, as provided by the SBA.
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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