PPP Loan Data — Smucker Company, Leola, PA
Entity: Subchapter S Corporation
Location: Leola, PATweet This • Search All PPP Data
Smucker Company is a subchapter s corporation located at 15 Newport Road in Leola, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $2,825,100.00 in April, 2020.
$ PPP Loan Information
Smucker Company in Leola, PA received a Paycheck Protection Loan of $2.83M through ORRSTOWN BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Smucker Company's total 2019 payroll expenses were approximately $13.56M in order to qualify for the PPP loan amount received.
Based on their reported 207 jobs retained, this equals an estimated average yearly compensation of $65,510 per employee1.
Business Information - Smucker Company in Leola, PA
15 Newport Road
Leola, PA 17540
Commercial and Institutional Building Construction (NAICS code 236220)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: PA-11
Similar Companies near Leola
In the Leola area, 2 businesses in the "Commercial and Institutional Building Construction" industry received a PPP loan. These local businesses reported an average of 111 employees (compared to this company's 207) and received an average PPP loan of $1,498,600 (compared to this company's $2.83M).
Similar Nearby Businesses Who Received PPP Funding:
Sunset Valley Metalcraftllc
Industry PPP Comparison Statistics
Nationwide, 39,925 businesses in the "Commercial and Institutional Building Construction" industry received a total of $8,114,153,480.00 in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 13 employees, 94% lower than Smucker Company's reported 207 employees, and received an average PPP loan of $203,235, 93% lower than this company's loan of $2.83M.
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, and is published unmodified, as provided by the SBA.
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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