PPP Loan Data — Phillips Corporation,
Hanover, MD
Phillips Corporation
Entity: Corporation
Industry: Industrial Machinery and Equipment Merchant Wholesalers
Location: Hanover, MD

Phillips Corporation is a corporation located at 7390 Coca Cola Dr Ste 200 in Hanover, Maryland that received a Coronavirus-related PPP loan from the SBA of $4,276,582.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 461 people during the applicable loan loan period.
$ PPP Loan Information
Loan Size:
Jobs Retained:
461Loan Approved:
2020-04-27Lender:
BANK OF AMERICA, NATIONAL ASSOCIATIONPhillips Corporation received a Paycheck Protection Loan of $4.28M through BANK OF AMERICA, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Phillips Corporation's total 2019 payroll expenses were approximately $20.53M in order to qualify for the PPP loan amount received.
Based on their reported 461 jobs retained, this equals an estimated average yearly compensation of $44,528 per employee1.
Business Information - Phillips Corporation in Hanover, MD
7390 Coca Cola Dr Ste 200
Hanover, MD 21076
Business Industry
Industrial Machinery and Equipment Merchant Wholesalers (NAICS code 423830)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: MALE OWNED
Veteran Status: NON-VETERAN
Congressional District: MD-02Industry PPP Comparison Statistics
Nationwide, 7,320 businesses in the "Industrial Machinery and Equipment Merchant Wholesalers" industry received a total of $1,713,685,837.00 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 15 employees, 97% lower than Phillips Corporation's reported 461 employees, and received an average PPP loan of $234,110, 95% lower than this company's loan of $4.28M.
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.
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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