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PPP Loan Data — PMC Property Group Inc,
Philadelphia, PA
PMC Property Group Inc
Entity: Corporation
Industry: Lessors of Nonresidential Buildings (except Miniwarehouses)
Location: Philadelphia, PA
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PMC Property Group Inc is a corporation located at 1608 Walnut St Ste 1400 in Philadelphia, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in January, 2021.
The company has reported itself as a male owned business, and employed at least 290 people during the applicable loan loan period.
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PPP Loan Information
Loan #9278388310
Loan Size:
Jobs Retained:
290Loan Approved:
2021-01-30Loan Status:
Ongoing LoanLender:
Firstrust Savings BankPMC Property Group Inc in Philadelphia, PA received a Paycheck Protection Loan of $2M through Firstrust Savings Bank, 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, PMC Property Group Inc's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 290 jobs retained, this equals an estimated average yearly compensation of $33,103 per employee1
Reported PPP Proceed Usage:
On the PPP application, PMC Property Group Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,999
- Utilities: $1
Business Information - PMC Property Group Inc in Philadelphia, PA
1608 Walnut St Ste 1400
Philadelphia, PA 19103
Business Industry:
Lessors of Nonresidential Buildings (except Miniwarehouses)
NAICS code 531120
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
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
Businesses Using Same Address:
There is one other business that received a PPP loan registered to the same address as PMC Property Group Inc.
51 East Fourth Street Associates Master Tenant LP
Hotels (except Casino Hotels) and Motels
Similar Companies near Philadelphia
In the Philadelphia area, 28 businesses in the "Lessors of Nonresidential Buildings (except Miniwarehouses)" industry received a PPP loan. These local businesses reported an average of 22 employees (compared to this company's 290) and received an average PPP loan of $188,925 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Philadelphia Cultural Fund Inc
Philadelphia, PA
Continental Developers LLC
Philadelphia, PA
Medarts Properties Limited Partnership
Philadelphia, PA
Benjamins Desk LLC
Philadelphia, PA
1518 Associates LP
Philadelphia, PA
Friends Center Corporation
Philadelphia, PA
211 N 13Th Street Associates LP
Philadelphia, PA
1900 Spruce Street Associates LP
Philadelphia, PA
Industry PPP Comparison Statistics
Nationwide, 19,182 businesses in the "Lessors of Nonresidential Buildings (except Miniwarehouses)" industry received a total of $1.7B 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 10 employees, 97% lower than PMC Property Group Inc's reported 290 employees, and received an average PPP loan of $88,570, 96% lower than this company's loan of $2M.
PMC Property Group, Inc
Entity: Corporation
Industry: Nonresidential Property Managers
Location: Philadelphia, PA
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PMC Property Group, Inc is a corporation located at 1608 Walnut Street Suite 1400 in Philadelphia, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $3,417,600.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 228 people during the applicable loan loan period.
$
PPP Loan Information
Loan #4444387100
Loan Size:
Jobs Retained:
228Loan Approved:
2020-04-13Loan Status:
Paid in Full or ForgivenLender:
Firstrust Savings BankPMC Property Group, Inc in Philadelphia, PA received a Paycheck Protection Loan of $3.42M through Firstrust Savings Bank, 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 October, 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, PMC Property Group, Inc's 2019 payroll expenses are estimated to be at least $16.4M.
Based on their reported 228 jobs retained, this equals an estimated average yearly compensation of $71,949 per employee1
Reported PPP Proceed Usage:
On the PPP application, PMC Property Group, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $3,417,600
Business Information - PMC Property Group, Inc in Philadelphia, PA
1608 Walnut Street Suite 1400
Philadelphia, PA 19103
Business Industry:
Nonresidential Property Managers
NAICS code 531312
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
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
Similar Companies near Philadelphia
In the Philadelphia area, 15 businesses in the "Nonresidential Property Managers" industry received a PPP loan. These local businesses reported an average of 27 employees (compared to this company's 228) and received an average PPP loan of $395,301 (compared to this company's $3.42M).
Similar Nearby Businesses Who Received PPP Funding:
SRS Real Estate
Philadelphia, PA
8 Penn Center Owner LP
Philadelphia, PA
1528 Walnut LP
Philadelphia, PA
The Arden Group, Inc
Philadelphia, PA
Pearl Properties Commercial Management LLC
Philadelphia, PA
Lejeune And Associates, LLC
Philadelphia, PA
Sentrum Services, Inc
Philadelphia, PA
Equivest Development Inc
Philadelphia, PA
Industry PPP Comparison Statistics
Nationwide, 11,880 businesses in the "Nonresidential Property Managers" industry received a total of $1.21B 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 9 employees, 96% lower than PMC Property Group, Inc's reported 228 employees, and received an average PPP loan of $102,065, 97% lower than this company's loan of $3.42M.
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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