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PPP Loan Data — ACE Industries Inc, Norcross, GA

SBA PPP loan data, payroll data, and salaries for ACE Industries Inc
GA

ACE Industries Inc

Entity: Corporation

Industry: Industrial Machinery and Equipment Merchant Wholesalers

Location: Norcross, GA

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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

Loan Size:

$5.48M

Jobs Retained:

336

Loan Approved:

2020-04-08

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.

Because the loan received by ACE Industries 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 - ACE Industries Inc in Norcross, GA

ACE Industries Inc
6295 Mcdonough Dr
Norcross, GA 30093

Business Industry

Industrial Machinery and Equipment Merchant Wholesalers (NAICS code 423830)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional 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).

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.

Search FederalPay's Full PPP Loan Database

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/ace-industries-inc-norcross-ga