PPP Loan Data — S Freedman & Sons Inc, Landover, MD
S Freedman & Sons Inc
Entity: Subchapter S Corporation
Location: Landover, MDTweet This • Search All PPP Data
S Freedman & Sons Inc is a subchapter s corporation located at 3322 Pennsy Drive in Landover, Maryland that received a Coronavirus-related PPP loan from the SBA of $2,247,095.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Truist Bank d/b/a Branch Banking & Trust Co
S Freedman & Sons Inc in Landover, MD received a Paycheck Protection Loan of $2.25M through Truist Bank d/b/a Branch Banking & Trust Co, which was approved in April, 2020.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
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, S Freedman & Sons Inc's 2019 payroll expenses are estimated to be at least $10.79M.
Based on their reported 148 jobs retained, this equals an estimated average yearly compensation of $72,879 per employee1
Reported PPP Proceed Usage:
On the PPP application, S Freedman & Sons Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,247,095
Business Information - S Freedman & Sons Inc in Landover, MD
3322 Pennsy Drive
Landover, MD 20785
Service Establishment Equipment and Supplies Merchant Wholesalers
NAICS code 423850
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Landover
In the Landover area, 3 businesses in the "Service Establishment Equipment and Supplies Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 52 employees (compared to this company's 148) and received an average PPP loan of $779,592 (compared to this company's $2.25M).
Similar Nearby Businesses Who Received PPP Funding:
Double B Corporation
Maintenance Solutions, Inc
Industry PPP Comparison Statistics
Nationwide, 4,109 businesses in the "Service Establishment Equipment and Supplies Merchant Wholesalers" industry received a total of $423.68M 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, 93% lower than S Freedman & Sons Inc's reported 148 employees, and received an average PPP loan of $103,111, 95% lower than this company's loan of $2.25M.
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Footnotes & Information
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