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PPP Loan Data — Turn 14 Distribution, Inc., Horsham, PA

SBA PPP loan data, payroll data, and salaries for Turn 14 Distribution, Inc.
PA

Turn 14 Distribution, Inc.

Entity: Subchapter S Corporation

Industry: Motor Vehicle Supplies and New Parts Merchant Wholesalers

Location: Horsham, PA

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Turn 14 Distribution, Inc. is a subchapter s corporation located at 100 Tournament Dr in Horsham, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $3,056,200.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.06M

Jobs Retained:

244

Loan Approved:

2020-04-28

Lender:

KEYBANK NATIONAL ASSOCIATION

Turn 14 Distribution, Inc. received a Paycheck Protection Loan of $3.06M through KEYBANK NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Turn 14 Distribution, Inc.'s total 2019 payroll expenses were approximately $14.67M in order to qualify for the PPP loan amount received.

Based on their reported 244 jobs retained, this equals an estimated average yearly compensation of $60,122 per employee1.

Because the loan received by Turn 14 Distribution, 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 - Turn 14 Distribution, Inc. in Horsham, PA

Turn 14 Distribution, Inc.
100 Tournament Dr
Horsham, PA 19044

Business Industry

Motor Vehicle Supplies and New Parts Merchant Wholesalers (NAICS code 423120)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: PA-04

Industry PPP Comparison Statistics

Nationwide, 4,042 businesses in the "Motor Vehicle Supplies and New Parts Merchant Wholesalers" industry received a total of $644,135,263.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 13 employees, 95% lower than Turn 14 Distribution, Inc.'s reported 244 employees, and received an average PPP loan of $159,361, 95% lower than this company's loan of $3.06M.

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.

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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/turn-14-distribution-inc-horsham-pa