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PPP Loan Data — Thermwell Products Co, Inc, Mahwah, NJ

SBA PPP loan data, payroll data, and salaries for Thermwell Products Co, Inc
NJ

Thermwell Products Co, Inc

Entity: Corporation

Industry: All Other Miscellaneous Store Retailers (except Tobacco Stores)

Location: Mahwah, NJ

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Thermwell Products Co, Inc is a corporation located at 420 Route 17 South in Mahwah, New Jersey that received a Coronavirus-related PPP loan from the SBA of $2,454,120.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.45M

Jobs Retained:

250

Loan Approved:

2020-04-15

Lender:

TD BANK, NATIONAL ASSOCIATION

Thermwell Products Co, Inc in Mahwah, NJ received a Paycheck Protection Loan of $2.45M through TD BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Thermwell Products Co, Inc's total 2019 payroll expenses were approximately $11.78M in order to qualify for the PPP loan amount received.

Based on their reported 250 jobs retained, this equals an estimated average yearly compensation of $47,119 per employee1.

Because the loan received by Thermwell Products Co, 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 - Thermwell Products Co, Inc in Mahwah, NJ

Thermwell Products Co, Inc
420 Route 17 South
Mahwah, NJ 7430

Business Industry

All Other Miscellaneous Store Retailers (except Tobacco Stores) (NAICS code 453998)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: NJ-05

Similar Companies near Mahwah

In the Mahwah area, 7 businesses in the "All Other Miscellaneous Store Retailers (except Tobacco Stores)" industry received a PPP loan. These local businesses reported an average of 40 employees (compared to this company's 250) and received an average PPP loan of $379,684 (compared to this company's $2.45M).

Industry PPP Comparison Statistics

Nationwide, 67,030 businesses in the "All Other Miscellaneous Store Retailers (except Tobacco Stores)" industry received a total of $3,394,491,072.00 in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.

PPP recipients in this industry report an average of 6 employees, 98% lower than Thermwell Products Co, Inc's reported 250 employees, and received an average PPP loan of $50,641, 98% lower than this company's loan of $2.45M.

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.

Search FederalPay's Full PPP Loan Database

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 www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/thermwell-products-co-inc-mahwah-nj