PPP Loan Data — Penndel Pizza II Inc, Penndel, PA
Penndel Pizza II Inc is a subchapter s corporation located at 15 W Lincoln Hwy in Penndel, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $25,300.00 in May, 2020.
The company has reported itself as a male owned business, and employed at least four people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:PNC Bank, National Association
Penndel Pizza II Inc in Penndel, PA received a Paycheck Protection Loan of $25,300 through PNC Bank, National Association, which was approved in May, 2020.
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, Penndel Pizza II Inc's 2019 payroll expenses are estimated to be at least $121,440.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,360 per employee1
Reported PPP Proceed Usage:
On the PPP application, Penndel Pizza II Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,300
Business Information - Penndel Pizza II Inc in Penndel, PA
15 W Lincoln Hwy
Penndel, PA 19047
NAICS code 722511
Business Owner Demographics
Gender: Male Owned
Veteran Status: Non-Veteran
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Penndel
In the Penndel area, 67 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 15 employees (compared to this company's 4) and received an average PPP loan of $71,609 (compared to this company's $25,300).
Similar Nearby Businesses Who Received PPP Funding:
Markowitz Properties LLC
Fill A Bagel Inc
Langhorne Historic Holdings LLC
Oreland Associates II LLC
New Beginnings Enterprises LLC
Industry PPP Comparison Statistics
Nationwide, 328,914 businesses in the "Full-Service Restaurants" industry received a total of $42.6B in PPP loans. These businesses account for 3% of total PPP applications submitted, and received 5% of the total PPP funding allocated.
PPP recipients in this industry report an average of 22 employees, 450% higher than Penndel Pizza II Inc's reported 4 employees, and received an average PPP loan of $129,504, 412% higher than this company's loan of $25,300.
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Footnotes & Information
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