PPP Loan Data — ACE Industries Inc, Norcross, GA
ACE Industries Inc
Location: Norcross, GATweet This • Search All PPP Data
ACE Industries Inc is a corporation located at 6295 Mcdonough Dr in Norcross, Georgia that received a Coronavirus-related PPP loan from the SBA of $5,482,473.00 in April, 2020.
$ PPP Loan Information
Lender:TRUIST BANK D/B/A BRANCH BANKING & TRUST CO
ACE Industries Inc in Norcross, GA received a Paycheck Protection Loan of $5.48M through TRUIST BANK D/B/A BRANCH BANKING & TRUST CO, which was approved in April, 2020.
Based on standard PPP eligibility rules, ACE Industries Inc's total 2019 payroll expenses were approximately $26.32M in order to qualify for the PPP loan amount received.
Based on their reported 336 jobs retained, this equals an estimated average yearly compensation of $78,321 per employee1.
Business Information - ACE Industries Inc in Norcross, GA
6295 Mcdonough Dr
Norcross, GA 30093
Industrial Machinery and Equipment Merchant Wholesalers (NAICS code 423830)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: GA-04
Similar Companies near Norcross
In the Norcross area, 10 businesses in the "Industrial Machinery and Equipment Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 41 employees (compared to this company's 336) and received an average PPP loan of $686,541 (compared to this company's $5.48M).
Similar Nearby Businesses Who Received PPP Funding:
Sycamore Sales, Inc
Peachtree Corners, GA
Lutz Pumps Incorporated
T-Drill Industries, Inc.
Sunstar USA, Inc
Jack Pittman & Associates Inc.
Industry PPP Comparison Statistics
Nationwide, 7,320 businesses in the "Industrial Machinery and Equipment Merchant Wholesalers" industry received a total of $1,713,685,837.00 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 15 employees, 96% lower than ACE Industries Inc's reported 336 employees, and received an average PPP loan of $234,110, 96% lower than this company's loan of $5.48M.
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.
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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