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PPP Loan Data — Acutec Precision Machining Inc, Meadville, PA

SBA PPP loan data, payroll data, and salaries for Acutec Precision Machining Inc
PA

Acutec Precision Machining Inc

Entity: Subchapter S Corporation

Industry: Aircraft Engine and Engine Parts Manufacturing

Location: Meadville, PA

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Acutec Precision Machining Inc is a subchapter s corporation located at 13555 Broadway in Meadville, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $6,660,800.00 in April, 2020.

The company has reported itself as a male owned business, and employed at least 500 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$6.66M

Jobs Retained:

500

Loan Approved:

2020-04-12

Lender:

PNC BANK, NATIONAL ASSOCIATION

Acutec Precision Machining Inc received a Paycheck Protection Loan of $6.66M through PNC BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Acutec Precision Machining Inc's total 2019 payroll expenses were approximately $31.97M in order to qualify for the PPP loan amount received.

Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $63,944 per employee1.

Because the loan received by Acutec Precision Machining 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 - Acutec Precision Machining Inc in Meadville, PA

Acutec Precision Machining Inc
13555 Broadway
Meadville, PA 16335

Business Industry

Aircraft Engine and Engine Parts Manufacturing (NAICS code 336412)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: MALE OWNED

Veteran Status: VETERAN

Congressional District: PA-16

Industry PPP Comparison Statistics

Nationwide, 449 businesses in the "Aircraft Engine and Engine Parts Manufacturing" industry received a total of $220,243,418.00 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 32 employees, 94% lower than Acutec Precision Machining Inc's reported 500 employees, and received an average PPP loan of $490,520, 93% lower than this company's loan of $6.66M.

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/acutec-precision-machining-inc-meadville-pa