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PPP Loan Data — USA Technologies, Inc, Malvern, PA

SBA PPP loan data, payroll data, and salaries for USA Technologies, Inc
PA

USA Technologies, Inc

Entity: Corporation

Industry: Vending Machine Operators

Location: Malvern, PA

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USA Technologies, Inc is a corporation located at 100 Deerfeild Ln. in Malvern, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $3,065,235.00 in April, 2020.

The company has reported itself as a male owned business, and employed at least 155 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$3.07M

Jobs Retained:

155

Loan Approved:

2020-04-28

Lender:

VALLEY NATIONAL BANK

USA Technologies, Inc in Malvern, PA received a Paycheck Protection Loan of $3.07M through VALLEY NATIONAL BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, USA Technologies, Inc's total 2019 payroll expenses were approximately $14.71M in order to qualify for the PPP loan amount received.

Based on their reported 155 jobs retained, this equals an estimated average yearly compensation of $94,923 per employee1.

Because the loan received by USA Technologies, 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 - USA Technologies, Inc in Malvern, PA

USA Technologies, Inc
100 Deerfeild Ln.
Malvern, PA 19355

Business Industry

Vending Machine Operators (NAICS code 454210)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: MALE OWNED

Veteran Status: Unreported

Congressional District: PA-06

Industry PPP Comparison Statistics

Nationwide, 2,249 businesses in the "Vending Machine Operators" industry received a total of $168,286,273.00 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 8 employees, 95% lower than USA Technologies, Inc's reported 155 employees, and received an average PPP loan of $74,827, 98% lower than this company's loan of $3.07M.

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.

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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/usa-technologies-inc-malvern-pa