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PPP Loan Data — PNY Technologies Inc, Parsippany, NJ

SBA PPP loan data, payroll data, and salaries for PNY Technologies Inc
NJ

PNY Technologies Inc

Entity: Corporation

Industry: Semiconductor and Related Device Manufacturing

Location: Parsippany, NJ

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PNY Technologies Inc is a corporation located at 100 Jefferson Rd in Parsippany, New Jersey that received a Coronavirus-related PPP loan from the SBA of $3,162,245.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.16M

Jobs Retained:

168

Loan Approved:

2020-04-11

Lender:

JPMORGAN CHASE BANK, NATIONAL ASSOCIATION

PNY Technologies Inc in Parsippany, NJ received a Paycheck Protection Loan of $3.16M through JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, PNY Technologies Inc's total 2019 payroll expenses were approximately $15.18M in order to qualify for the PPP loan amount received.

Based on their reported 168 jobs retained, this equals an estimated average yearly compensation of $90,350 per employee1.

Because the loan received by PNY Technologies Inc is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - PNY Technologies Inc in Parsippany, NJ

PNY Technologies Inc
100 Jefferson Rd
Parsippany, NJ 7054

Business Industry

Semiconductor and Related Device Manufacturing (NAICS code 334413)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: NJ-11

Industry PPP Comparison Statistics

Nationwide, 716 businesses in the "Semiconductor and Related Device Manufacturing" industry received a total of $262,536,419.00 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 19 employees, 89% lower than PNY Technologies Inc's reported 168 employees, and received an average PPP loan of $366,671, 88% lower than this company's loan of $3.16M.

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.

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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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/pny-technologies-inc-parsippany-nj