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PPP Loan Data — Sovereign Distributors, Inc., Cherry Hill, NJ

SBA PPP loan data, payroll data, and salaries for Sovereign Distributors, Inc.

Sovereign Distributors, Inc.

Entity: Subchapter S Corporation

Industry: Floor Covering Stores

Location: Cherry Hill, NJ

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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

Loan Size:


Jobs Retained:


Loan Approved:




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.

Because the loan received by Sovereign Distributors, Inc. 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 - Sovereign Distributors, Inc. in Cherry Hill, NJ

Sovereign Distributors, Inc.
2030 Springdale Road
Cherry Hill, NJ 08003

Business Industry

Floor Covering Stores (NAICS code 442210)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional 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).

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.

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.

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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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** This Document Provided By - The Civil Employee's Resource **