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PPP Loan Data — Phillips & Cohen Associates, LTD,
Wilmington, DE
Phillips & Cohen Associates, LTD
Entity: Subchapter S Corporation
Industry: Collection Agencies
Location: Wilmington, DE
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Phillips & Cohen Associates, LTD is a subchapter s corporation located at 1002 Justison Street in Wilmington, Delaware that received a Coronavirus-related PPP loan from the SBA of $2,459,052.00 in April, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
237Loan Approved:
2020-04-27Lender:
MANUFACTURERS AND TRADERS TRUST COMPANYPhillips & Cohen Associates, LTD in Wilmington, DE received a Paycheck Protection Loan of $2.46M through MANUFACTURERS AND TRADERS TRUST COMPANY, which was approved in April, 2020.
Based on standard PPP eligibility rules, Phillips & Cohen Associates, LTD's total 2019 payroll expenses were approximately $11.8M in order to qualify for the PPP loan amount received.
Based on their reported 237 jobs retained, this equals an estimated average yearly compensation of $49,804 per employee1.
Business Information - Phillips & Cohen Associates, LTD in Wilmington, DE
1002 Justison Street
Wilmington, DE 19801
Business Industry
Collection Agencies (NAICS code 561440)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: DE-Industry PPP Comparison Statistics
Nationwide, 1,688 businesses in the "Collection Agencies" industry received a total of $422,227,575.00 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 20 employees, 92% lower than Phillips & Cohen Associates, LTD's reported 237 employees, and received an average PPP loan of $250,135, 90% lower than this company's loan of $2.46M.
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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