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PPP Loan Data — Process Service Specialists, LLC. Of Delaware, Wilmington, DE

SBA PPP loan data, payroll data, and salaries for Process Service Specialists, LLC. Of Delaware
DE

Process Service Specialists, LLC. Of Delaware

Entity: Limited Liability Company (LLC)

Industry: Site Preparation Contractors

Location: Wilmington, DE

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Process Service Specialists, LLC. Of Delaware is a limited liability company (LLC) located at 1209 Orange St in Wilmington, Delaware that received a Coronavirus-related PPP loan from the SBA of $3,523,990.00 in April, 2020.

The company has reported itself as an American indian or alaska native male owned business, and employed at least 230 people during the applicable loan loan period.

$ PPP Loan Information
Loan #3664017200

Loan Size:

$3.52M

Jobs Retained:

230

Loan Approved:

2020-04-27

Loan Status:

Paid in Full or Forgiven

Lender:

b1BANK

Process Service Specialists, LLC. Of Delaware in Wilmington, DE received a Paycheck Protection Loan of $3.52M through b1BANK, 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 August, 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 More
Understanding 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 More

Based 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, Process Service Specialists, LLC. Of Delaware's 2019 payroll expenses are estimated to be at least $16.92M.

Based on their reported 230 jobs retained, this equals an estimated average yearly compensation of $73,544 per employee1

Reported PPP Proceed Usage:

On the PPP application, Process Service Specialists, LLC. Of Delaware reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $3,523,990
Because the loan received by Process Service Specialists, LLC. Of Delaware 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 - Process Service Specialists, LLC. Of Delaware in Wilmington, DE

Process Service Specialists, LLC. Of Delaware
1209 Orange St
Wilmington, DE 19801

Business Industry:
Site Preparation Contractors
NAICS code 238910

Business Owner Demographics

Race: American Indian or Alaska Native

Ethnicity: Unreported

Gender: Male Owned

Veteran Status: Unreported

Business Demographics

Business Age: New Business or 2 years or less

LMI Zone: Y

HUBZone: N

Rural / Urban: Urban

New Castle County, DE — SBA Office 0341 — Congressional District: DE-

Similar Companies near Wilmington

In the Wilmington area, 3 businesses in the "Site Preparation Contractors" industry received a PPP loan. These local businesses reported an average of 82 employees (compared to this company's 230) and received an average PPP loan of $1,218,497 (compared to this company's $3.52M).

Industry PPP Comparison Statistics

Nationwide, 30,777 businesses in the "Site Preparation Contractors" industry received a total of $4.3B 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 12 employees, 95% lower than Process Service Specialists, LLC. Of Delaware's reported 230 employees, and received an average PPP loan of $139,838, 96% lower than this company's loan of $3.52M.

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.

Search FederalPay's Full PPP Loan Database

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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Source: www.federalpay.org/paycheck-protection-program/process-service-specialists-llc-of-delaware-wilmington-de