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PPP Loan Data — SBM Life Science Corp, Cary, NC

SBA PPP loan data, payroll data, and salaries for SBM Life Science Corp
NC

SBM Life Science Corp

Entity: Corporation

Industry: Nursery, Garden Center, and Farm Supply Stores

Location: Cary, NC

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SBM Life Science Corp is a corporation located at 1001 Winstead Dr in Cary, North Carolina that received a Coronavirus-related PPP loan from the SBA of $2,687,600.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.69M

Jobs Retained:

210

Loan Approved:

2020-04-28

Lender:

PNC BANK, NATIONAL ASSOCIATION

SBM Life Science Corp received a Paycheck Protection Loan of $2.69M through PNC BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, SBM Life Science Corp's total 2019 payroll expenses were approximately $12.9M in order to qualify for the PPP loan amount received.

Based on their reported 210 jobs retained, this equals an estimated average yearly compensation of $61,431 per employee1.

Because the loan received by SBM Life Science Corp 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 - SBM Life Science Corp in Cary, NC

SBM Life Science Corp
1001 Winstead Dr
Cary, NC 27513

Business Industry

Nursery, Garden Center, and Farm Supply Stores (NAICS code 444220)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: NC-04

Similar Companies near Cary

In the Cary area, 3 businesses in the "Nursery, Garden Center, and Farm Supply Stores" industry received a PPP loan. These local businesses reported an average of 101 employees (compared to this company's 210) and received an average PPP loan of $995,674 (compared to this company's $2.69M).

Industry PPP Comparison Statistics

Nationwide, 5,426 businesses in the "Nursery, Garden Center, and Farm Supply Stores" industry received a total of $604,698,392.00 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 14 employees, 93% lower than SBM Life Science Corp's reported 210 employees, and received an average PPP loan of $111,445, 96% lower than this company's loan of $2.69M.

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.

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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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Source: www.federalpay.org/paycheck-protection-program/sbm-life-science-corp-cary-nc