PPP Loan Data — Silvertip Inc, Lewisburg, PA
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Silvertip Inc is a cooperative located at 600 St Mary St in Lewisburg, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $1,658,707.00 in April, 2020.
The company has reported itself as a female owned business, and employed at least 92 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:First National Bank of Pennsylvania
Silvertip Inc in Lewisburg, PA received a Paycheck Protection Loan of $1.66M through First National Bank of Pennsylvania, 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, Silvertip Inc's 2019 payroll expenses are estimated to be at least $7.96M.
Based on their reported 92 jobs retained, this equals an estimated average yearly compensation of $86,541 per employee1
Reported PPP Proceed Usage:
On the PPP application, Silvertip Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,658,707
Business Information - Silvertip Inc in Lewisburg, PA
600 St Mary St
Lewisburg, PA 17837
Plumbing, Heating, and Air-Conditioning Contractors
NAICS code 238220
Business Owner Demographics
Gender: Female Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Rural
Similar Companies near Lewisburg
In the Lewisburg area, 9 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a PPP loan. These local businesses reported an average of 19 employees (compared to this company's 92) and received an average PPP loan of $287,492 (compared to this company's $1.66M).
Similar Nearby Businesses Who Received PPP Funding:
Air Management Technologies, Inc
The HVAC Guys
Keiser's Plumbing And Heating LLC
CVC Mechanical Contractors
Knauss Plumbing LLC
C&I Mechanical LLC
Industry PPP Comparison Statistics
Nationwide, 105,811 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a total of $13.07B 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, 89% lower than Silvertip Inc's reported 92 employees, and received an average PPP loan of $123,520, 93% lower than this company's loan of $1.66M.
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