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PPP Loan Data — Rumsey Electric Company,
Conshohocken, PA
Rumsey Electric Company
Entity: Corporation
Industry: Electrical Apparatus and Equipment, Wiring Supplies, and Related Equipment Merchant Wholesalers
Location: Conshohocken, PA
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Rumsey Electric Company is a corporation located at 15 Colwell Ln in Conshohocken, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $4,337,100.00 in April, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
275Loan Approved:
2020-04-06Lender:
PNC BANK, NATIONAL ASSOCIATIONRumsey Electric Company in Conshohocken, PA received a Paycheck Protection Loan of $4.34M through PNC BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Rumsey Electric Company's total 2019 payroll expenses were approximately $20.82M in order to qualify for the PPP loan amount received.
Based on their reported 275 jobs retained, this equals an estimated average yearly compensation of $75,702 per employee1.
Business Information - Rumsey Electric Company in Conshohocken, PA
15 Colwell Ln
Conshohocken, PA 19428
Business Industry
Electrical Apparatus and Equipment, Wiring Supplies, and Related Equipment Merchant Wholesalers (NAICS code 423610)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: PA-04Similar Companies near Conshohocken
In the Conshohocken area, 2 businesses in the "Electrical Apparatus and Equipment, Wiring Supplies, and Related Equipment Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 140 employees (compared to this company's 275) and received an average PPP loan of $2,181,800 (compared to this company's $4.34M).
Similar Nearby Businesses Who Received PPP Funding:
Keystone Power And Light LLC
Conshohocken, PA
Industry PPP Comparison Statistics
Nationwide, 4,322 businesses in the "Electrical Apparatus and Equipment, Wiring Supplies, and Related Equipment Merchant Wholesalers" industry received a total of $994,969,830.00 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, 95% lower than Rumsey Electric Company's reported 275 employees, and received an average PPP loan of $230,211, 95% lower than this company's loan of $4.34M.
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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