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PPP Loan Data — Pennsylvania Lumbermens Mutual Insurance Company,
Philadelphia, PA
Pennsylvania Lumbermens Mutual Insurance Company
Entity: Corporation
Industry: Direct Property and Casualty Insurance Carriers
Location: Philadelphia, PA
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Pennsylvania Lumbermens Mutual Insurance Company is a corporation located at 2005 Market St Ste 1200 in Philadelphia, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $2,873,100.00 in April, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
162Loan Approved:
2020-04-29Lender:
PNC BANK, NATIONAL ASSOCIATIONPennsylvania Lumbermens Mutual Insurance Company in Philadelphia, PA received a Paycheck Protection Loan of $2.87M through PNC BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Pennsylvania Lumbermens Mutual Insurance Company's total 2019 payroll expenses were approximately $13.79M in order to qualify for the PPP loan amount received.
Based on their reported 162 jobs retained, this equals an estimated average yearly compensation of $85,129 per employee1.
Business Information - Pennsylvania Lumbermens Mutual Insurance Company in Philadelphia, PA
2005 Market St Ste 1200
Philadelphia, PA 19103
Business Industry
Direct Property and Casualty Insurance Carriers (NAICS code 524126)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: PA-03Industry PPP Comparison Statistics
Nationwide, 4,105 businesses in the "Direct Property and Casualty Insurance Carriers" industry received a total of $356,353,782.00 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 7 employees, 96% lower than Pennsylvania Lumbermens Mutual Insurance Company's reported 162 employees, and received an average PPP loan of $86,810, 97% lower than this company's loan of $2.87M.
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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