PPP Loan Data — Tristate HVAC Equipment, LLP, Conshohocken, PA
Tristate HVAC Equipment, LLP
Location: Conshohocken, PATweet This • Search All PPP Data
Tristate HVAC Equipment, LLP is a partnership located at 1 Resource Dr in Conshohocken, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $2,236,310.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:NexTier Bank, National Association
Tristate HVAC Equipment, LLP in Conshohocken, PA received a Paycheck Protection Loan of $2.24M through NexTier 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, Tristate HVAC Equipment, LLP's 2019 payroll expenses are estimated to be at least $10.73M.
Based on their reported 150 jobs retained, this equals an estimated average yearly compensation of $71,562 per employee1
Reported PPP Proceed Usage:
On the PPP application, Tristate HVAC Equipment, LLP reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,236,310
Business Information - Tristate HVAC Equipment, LLP in Conshohocken, PA
1 Resource Dr
Conshohocken, PA 19428
Warm Air Heating and Air-Conditioning Equipment and Supplies Merchant Wholesalers
NAICS code 423730
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Conshohocken
In the Conshohocken area, 3 businesses in the "Warm Air Heating and Air-Conditioning Equipment and Supplies Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 65 employees (compared to this company's 150) and received an average PPP loan of $995,537 (compared to this company's $2.24M).
Similar Nearby Businesses Who Received PPP Funding:
Broudy Precision Equipment Company Inc
Robert M Hilberts Inc
Industry PPP Comparison Statistics
Nationwide, 2,415 businesses in the "Warm Air Heating and Air-Conditioning Equipment and Supplies Merchant Wholesalers" industry received a total of $489.76M 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 15 employees, 90% lower than Tristate HVAC Equipment, LLP's reported 150 employees, and received an average PPP loan of $202,797, 91% lower than this company's loan of $2.24M.
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Footnotes & Information
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