PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — The Gerson Company, Olathe, KS

ALERT: There are 2 PPP loans for a total of $4.71M in our database for businesses with the name "The Gerson Company" in Olathe, KS. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for The Gerson Company
KS

The Gerson Company

Entity: Subchapter S Corporation

Industry: Gift, Novelty, and Souvenir Stores

Location: Olathe, KS

Search All PPP Data

The Gerson Company is a subchapter s corporation located at 1450 S Lone Elm Rd in Olathe, Kansas that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in February, 2021.

$ PPP Loan Information
Loan #2641718404

Loan Size:

$2M

Jobs Retained:

222

Loan Approved:

2021-02-03

Loan Status:

Ongoing Loan

Lender:

Commerce Bank

The Gerson Company in Olathe, KS received a Paycheck Protection Loan of $2M through Commerce Bank, which was approved in February, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, The Gerson Company's 2019 payroll expenses are estimated to be at least $9.6M.

Based on their reported 222 jobs retained, this equals an estimated average yearly compensation of $43,243 per employee1

Reported PPP Proceed Usage:

On the PPP application, The Gerson Company reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $2,000,000
Because the loan received by The Gerson Company 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 - The Gerson Company in Olathe, KS

The Gerson Company
1450 S Lone Elm Rd
Olathe, KS 66061

Business Industry:
Gift, Novelty, and Souvenir Stores
NAICS code 453220

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Johnson County, KS — SBA Office 0709 — Congressional District: KS-03

Similar Companies near Olathe

In the Olathe area, 4 businesses in the "Gift, Novelty, and Souvenir Stores" industry received a PPP loan. These local businesses reported an average of 61 employees (compared to this company's 222) and received an average PPP loan of $508,015 (compared to this company's $2M).

Industry PPP Comparison Statistics

Nationwide, 14,729 businesses in the "Gift, Novelty, and Souvenir Stores" industry received a total of $532.76M 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 7 employees, 97% lower than The Gerson Company's reported 222 employees, and received an average PPP loan of $36,171, 98% lower than this company's loan of $2M.

SBA PPP loan data, payroll data, and salaries for The Gerson Company
KS

The Gerson Company

Entity: Subchapter S Corporation

Industry: Flower, Nursery Stock, and Florists' Supplies Merchant Wholesalers

Location: Olathe, KS

Search All PPP Data

The Gerson Company is a subchapter s corporation located at 1450 S Lone Elm Road in Olathe, Kansas that received a Coronavirus-related PPP loan from the SBA of $2,711,670.00 in April, 2020.

$ PPP Loan Information
Loan #4994257003

Loan Size:

$2.71M

Jobs Retained:

250

Loan Approved:

2020-04-04

Loan Status:

Ongoing Loan

Lender:

Commerce Bank

The Gerson Company in Olathe, KS received a Paycheck Protection Loan of $2.71M through Commerce Bank, which was approved in April, 2020.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, The Gerson Company's 2019 payroll expenses are estimated to be at least $13.02M.

Based on their reported 250 jobs retained, this equals an estimated average yearly compensation of $52,064 per employee1

Reported PPP Proceed Usage:

On the PPP application, The Gerson Company reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $2,223,670
  • Utilities: $80,000
  • Rent: $83,000
  • Health Care: $245,000
  • Debt Interest: $80,000
Because the loan received by The Gerson Company 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 - The Gerson Company in Olathe, KS

The Gerson Company
1450 S Lone Elm Road
Olathe, KS 66061

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Johnson County, KS — SBA Office 0709 — Congressional District: KS-03

Industry PPP Comparison Statistics

Nationwide, 3,540 businesses in the "Flower, Nursery Stock, and Florists' Supplies Merchant Wholesalers" industry received a total of $379.04M 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 14 employees, 94% lower than The Gerson Company's reported 250 employees, and received an average PPP loan of $107,075, 96% lower than this company's loan of $2.71M.

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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. 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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Source: www.federalpay.org/paycheck-protection-program/the-gerson-company-olathe-ks