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PPP Loan Data — Pharmaceutics International Inc,
Hunt Valley, MD
Pharmaceutics International Inc
Entity: Corporation
Industry: Pharmaceutical Preparation Manufacturing
Location: Hunt Valley, MD
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Pharmaceutics International Inc is a corporation located at 10819 Gilroy Rd in Hunt Valley, Maryland that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in January, 2021.
The company has reported itself as an Asian owned business, and employed at least 235 people during the applicable loan loan period.
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PPP Loan Information
Loan #4942568301
Loan Size:
Jobs Retained:
235Loan Approved:
2021-01-23Loan Status:
Ongoing LoanLender:
First National Bank of PennsylvaniaPharmaceutics International Inc in Hunt Valley, MD received a Paycheck Protection Loan of $2M through First National Bank of Pennsylvania, which was approved in January, 2021.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Pharmaceutics International Inc's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 235 jobs retained, this equals an estimated average yearly compensation of $40,851 per employee1
Reported PPP Proceed Usage:
On the PPP application, Pharmaceutics International Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,998
- Utilities: $1
Business Information - Pharmaceutics International Inc in Hunt Valley, MD
10819 Gilroy Rd
Hunt Valley, MD 21031
Business Industry:
Pharmaceutical Preparation Manufacturing
NAICS code 325412
Business Owner Demographics
Race: Asian
Ethnicity: Not Hispanic or Latino
Gender: Unreported
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Hunt Valley
In the Hunt Valley area, 2 businesses in the "Pharmaceutical Preparation Manufacturing" industry received a PPP loan. These local businesses reported an average of 121 employees (compared to this company's 235) and received an average PPP loan of $1,052,651 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
PER Os Biosciences LLC
Hunt Valley, MD
Industry PPP Comparison Statistics
Nationwide, 1,918 businesses in the "Pharmaceutical Preparation Manufacturing" industry received a total of $619.85M 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 25 employees, 89% lower than Pharmaceutics International Inc's reported 235 employees, and received an average PPP loan of $323,173, 84% lower than this company's loan of $2M.
Pharmaceutics International, Inc
Entity: Corporation
Industry: Drugs and Druggists' Sundries Merchant Wholesalers
Location: Hunt Valley, MD
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Pharmaceutics International, Inc is a corporation located at 10819 Gilroy Rd in Hunt Valley, Maryland that received a Coronavirus-related PPP loan from the SBA of $4,479,200.00 in April, 2020.
The company has reported itself as an Asian male owned business, and employed at least 292 people during the applicable loan loan period.
$
PPP Loan Information
Loan #5962957001
Loan Size:
Jobs Retained:
292Loan Approved:
2020-04-06Loan Status:
Paid in Full or ForgivenLender:
First National Bank of PennsylvaniaPharmaceutics International, Inc in Hunt Valley, MD received a Paycheck Protection Loan of $4.48M through First National Bank of Pennsylvania, 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 July, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Pharmaceutics International, Inc's 2019 payroll expenses are estimated to be at least $21.5M.
Based on their reported 292 jobs retained, this equals an estimated average yearly compensation of $73,631 per employee1
Reported PPP Proceed Usage:
On the PPP application, Pharmaceutics International, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $3,359,400
- Rent: $1,119,800
Business Information - Pharmaceutics International, Inc in Hunt Valley, MD
10819 Gilroy Rd
Hunt Valley, MD 21031
Business Industry:
Drugs and Druggists' Sundries Merchant Wholesalers
NAICS code 424210
Business Owner Demographics
Race: Asian
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 3,532 businesses in the "Drugs and Druggists' Sundries Merchant Wholesalers" industry received a total of $498.96M 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 14 employees, 95% lower than Pharmaceutics International, Inc's reported 292 employees, and received an average PPP loan of $141,270, 97% lower than this company's loan of $4.48M.
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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
Footnotes & Information
1. Estimations for informational purposes only. 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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