PPP Loan Data — Tool & Equipment Solutions, Inc, Hatboro, PA
Tool & Equipment Solutions, Inc is a subchapter s corporation located at 40 Maurice Lane in Hatboro, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $45,975.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:TD Bank, National Association
Tool & Equipment Solutions, Inc in Hatboro, PA received a Paycheck Protection Loan of $45,975 through TD 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, Tool & Equipment Solutions, Inc's 2019 payroll expenses are estimated to be at least $220,680.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $44,136 per employee1
Reported PPP Proceed Usage:
On the PPP application, Tool & Equipment Solutions, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $45,975
Business Information - Tool & Equipment Solutions, Inc in Hatboro, PA
40 Maurice Lane
Hatboro, PA 19040
Automotive Parts and Accessories Stores
NAICS code 441310
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 17,983 businesses in the "Automotive Parts and Accessories Stores" industry received a total of $1.2B 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 8 employees, 60% higher than Tool & Equipment Solutions, Inc's reported 5 employees, and received an average PPP loan of $66,454, 45% higher than this company's loan of $45,975.
FederalPay's PPP Information Policy
Footnotes & Information
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