PPP Loan Data — Tinius Olsen Testing Machine Company, Horsham, PA
Tinius Olsen Testing Machine Company
Location: Horsham, PATweet This • Search All PPP Data
Tinius Olsen Testing Machine Company is a corporation located at 1065 Easton Road in Horsham, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $2,079,600.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:PNC Bank, National Association
Tinius Olsen Testing Machine Company in Horsham, PA received a Paycheck Protection Loan of $2.08M through PNC Bank, National Association, which was approved in April, 2020.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
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, Tinius Olsen Testing Machine Company's 2019 payroll expenses are estimated to be at least $9.98M.
Based on their reported 110 jobs retained, this equals an estimated average yearly compensation of $90,746 per employee1
Reported PPP Proceed Usage:
On the PPP application, Tinius Olsen Testing Machine Company reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,079,600
Business Information - Tinius Olsen Testing Machine Company in Horsham, PA
1065 Easton Road
Horsham, PA 19044
Other Measuring and Controlling Device Manufacturing
NAICS code 334519
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Horsham
In the Horsham area, 4 businesses in the "Other Measuring and Controlling Device Manufacturing" industry received a PPP loan. These local businesses reported an average of 61 employees (compared to this company's 110) and received an average PPP loan of $1,087,039 (compared to this company's $2.08M).
Similar Nearby Businesses Who Received PPP Funding:
Reliefband Technologies LLC
Tinius Olsen Testing Machine Co
Industry PPP Comparison Statistics
Nationwide, 1,070 businesses in the "Other Measuring and Controlling Device Manufacturing" industry received a total of $254.04M 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 17 employees, 85% lower than Tinius Olsen Testing Machine Company's reported 110 employees, and received an average PPP loan of $237,417, 89% lower than this company's loan of $2.08M.
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Footnotes & Information
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