PPP Loan Data — Sassa & Concannon, Inc, Norwood, PA
Sassa & Concannon, Inc is a subchapter s corporation located at 227 Chester Pike in Norwood, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $46,416.00 in May, 2020.
The company has reported itself as a White male owned business, and employed at least four people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Cross River Bank
Sassa & Concannon, Inc in Norwood, PA received a Paycheck Protection Loan of $46,416 through Cross River Bank, which was approved in May, 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, Sassa & Concannon, Inc's 2019 payroll expenses are estimated to be at least $222,797.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $55,699 per employee1
Reported PPP Proceed Usage:
On the PPP application, Sassa & Concannon, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,416
Business Information - Sassa & Concannon, Inc in Norwood, PA
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
PPP recipients in this industry report an average of 0 employees, 100% lower than Sassa & Concannon, Inc's reported 4 employees, and received an average PPP loan of $0, 100% lower than this company's loan of $46,416.
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Footnotes & Information
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