PPP Loan Data — Sardo & Sons Warehousing, Inc, Newark, DE
Sardo & Sons Warehousing, Inc
Location: Newark, DETweet This • Search All PPP Data
Sardo & Sons Warehousing, Inc is a corporation located at 111 Lake Dr Suite E in Newark, Delaware that received a Coronavirus-related PPP loan from the SBA of $1,627,212.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Wilmington Savings Fund Society, FSB
Sardo & Sons Warehousing, Inc in Newark, DE received a Paycheck Protection Loan of $1.63M through Wilmington Savings Fund Society, FSB, 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 January, 2021.
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, Sardo & Sons Warehousing, Inc's 2019 payroll expenses are estimated to be at least $7.81M.
Based on their reported 126 jobs retained, this equals an estimated average yearly compensation of $61,989 per employee1
Reported PPP Proceed Usage:
On the PPP application, Sardo & Sons Warehousing, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,627,212
Business Information - Sardo & Sons Warehousing, Inc in Newark, DE
111 Lake Dr Suite E
Newark, DE 19702
Process, Physical Distribution, and Logistics Consulting Services
NAICS code 541614
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Businesses Using Same Address:
There is one other business that received a PPP loan registered to the same address as Sardo & Sons Warehousing, Inc.
Quality Repak, Inc
Packaging and Labeling Services
Similar Companies near Newark
In the Newark area, 5 businesses in the "Process, Physical Distribution, and Logistics Consulting Services" industry received a PPP loan. These local businesses reported an average of 27 employees (compared to this company's 126) and received an average PPP loan of $333,327 (compared to this company's $1.63M).
Similar Nearby Businesses Who Received PPP Funding:
Reagan Logistics Inc
SFJ Industries LLC
Russell Byrd Jr
Industry PPP Comparison Statistics
Nationwide, 10,180 businesses in the "Process, Physical Distribution, and Logistics Consulting Services" industry received a total of $912.74M 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 8 employees, 94% lower than Sardo & Sons Warehousing, Inc's reported 126 employees, and received an average PPP loan of $89,660, 94% lower than this company's loan of $1.63M.
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Footnotes & Information
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