PPP Loan Data — Penn Veterinary Supply Inc, Lancaster, PA
Penn Veterinary Supply Inc
Location: Lancaster, PATweet This • Search All PPP Data
Penn Veterinary Supply Inc is a corporation located at 53 Industrial Circle in Lancaster, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $1,831,360.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Fulton Bank, National Association
Penn Veterinary Supply Inc in Lancaster, PA received a Paycheck Protection Loan of $1.83M through Fulton Bank, National Association, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in April, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
Based on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, Penn Veterinary Supply Inc's 2019 payroll expenses are estimated to be at least $8.79M.
Based on their reported 123 jobs retained, this equals an estimated average yearly compensation of $71,468 per employee1
Reported PPP Proceed Usage:
On the PPP application, Penn Veterinary Supply Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,373,520
- Utilities: $152,613
- Mortgage Interest: $152,613
- Rent: $152,613
Business Information - Penn Veterinary Supply Inc in Lancaster, PA
53 Industrial Circle
Lancaster, PA 17601
Other Professional Equipment and Supplies Merchant Wholesalers
NAICS code 423490
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Lancaster
In the Lancaster area, 2 businesses in the "Other Professional Equipment and Supplies Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 65 employees (compared to this company's 123) and received an average PPP loan of $955,996 (compared to this company's $1.83M).
Similar Nearby Businesses Who Received PPP Funding:
Wiley's Pharmacy Inc
Industry PPP Comparison Statistics
Nationwide, 2,463 businesses in the "Other Professional Equipment and Supplies Merchant Wholesalers" industry received a total of $273.08M in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 9 employees, 93% lower than Penn Veterinary Supply Inc's reported 123 employees, and received an average PPP loan of $110,872, 94% lower than this company's loan of $1.83M.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!