PPP Loan Data — Sovereign Distributors, Inc., Cherry Hill, NJ
Sovereign Distributors, Inc. is a subchapter s corporation located at 2030 Springdale Road in Cherry Hill, New Jersey that received a Coronavirus-related PPP loan from the SBA of $4,696,300.00 in April, 2020.
$ PPP Loan Information
Lender:PNC BANK, NATIONAL ASSOCIATION
Sovereign Distributors, Inc. in Cherry Hill, NJ received a Paycheck Protection Loan of $4.7M through PNC BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Sovereign Distributors, Inc.'s total 2019 payroll expenses were approximately $22.54M in order to qualify for the PPP loan amount received.
Based on their reported 349 jobs retained, this equals an estimated average yearly compensation of $64,591 per employee1.
Business Information - Sovereign Distributors, Inc. in Cherry Hill, NJ
2030 Springdale Road
Cherry Hill, NJ 08003
Floor Covering Stores (NAICS code 442210)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: NJ-01
Similar Companies near Cherry Hill
In the Cherry Hill area, 3 businesses in the "Floor Covering Stores" industry received a PPP loan. These local businesses reported an average of 126 employees (compared to this company's 349) and received an average PPP loan of $1,750,165 (compared to this company's $4.7M).
Similar Nearby Businesses Who Received PPP Funding:
Camden Flooring Co.
Cherry Hill, NJ
Bellmar Investment Group Inc
Cherry Hill, NJ
Industry PPP Comparison Statistics
Nationwide, 6,129 businesses in the "Floor Covering Stores" industry received a total of $557,466,369.00 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 8 employees, 98% lower than Sovereign Distributors, Inc.'s reported 349 employees, and received an average PPP loan of $90,956, 98% lower than this company's loan of $4.7M.
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Footnotes & Information
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