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 Stainless Products Inc, Quakertown, PA

SBA PPP loan data, payroll data, and salaries for Penn Stainless Products Inc
PA

Penn Stainless Products Inc

Entity: Subchapter S Corporation

Industry: Metal Service Centers and Other Metal Merchant Wholesalers

Location: Quakertown, PA

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

Loan Size:

$3.13M

Jobs Retained:

200

Loan Approved:

2020-04-14

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.

Because the loan received by Penn Stainless Products 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 - Penn Stainless Products Inc in Quakertown, PA

Penn Stainless Products Inc
190 Kelly Road
Quakertown, PA 18951

Business Industry

Metal Service Centers and Other Metal Merchant Wholesalers (NAICS code 423510)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional 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
Quakertown, PA

$420,000 PPP Loan

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.

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-stainless-products-inc-quakertown-pa