PPP Loan Data — Sennheiser Electronic Corporation, Old Lyme, CT
Sennheiser Electronic Corporation
Location: Old Lyme, CTTweet This • Search All PPP Data
Sennheiser Electronic Corporation is a corporation located at 1 Enterprise Dr in Old Lyme, Connecticut that received a Coronavirus-related PPP loan from the SBA of $2,581,534.00 in April, 2020.
$ PPP Loan Information
Lender:BANK OF AMERICA, NATIONAL ASSOCIATION
Sennheiser Electronic Corporation received a Paycheck Protection Loan of $2.58M through BANK OF AMERICA, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Sennheiser Electronic Corporation's total 2019 payroll expenses were approximately $12.39M in order to qualify for the PPP loan amount received.
Based on their reported 128 jobs retained, this equals an estimated average yearly compensation of $96,808 per employee1.
Business Information - Sennheiser Electronic Corporation in Old Lyme, CT
1 Enterprise Dr
Old Lyme, CT 6371
Other Electronic Parts and Equipment Merchant Wholesalers (NAICS code 423690)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: CT-02
Industry PPP Comparison Statistics
Nationwide, 2,976 businesses in the "Other Electronic Parts and Equipment Merchant Wholesalers" industry received a total of $458,980,945.00 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 11 employees, 91% lower than Sennheiser Electronic Corporation's reported 128 employees, and received an average PPP loan of $154,227, 94% lower than this company's loan of $2.58M.
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Footnotes & Information
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