PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Advance MFG Co, Inc, Westfield, MA

SBA PPP loan data, payroll data, and salaries for Advance MFG Co, Inc
MA

Advance MFG Co, Inc

Entity: Corporation

Industry: All Other Miscellaneous Fabricated Metal Product Manufacturing

Location: Westfield, MA

Search All PPP Data

Advance MFG Co, Inc is a corporation located at 8 Turnpike Industrial Rd in Westfield, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $3,552,900.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.55M

Jobs Retained:

227

Loan Approved:

2020-04-06

Lender:

NEW VALLEY BANK & TRUST

Advance MFG Co, Inc in Westfield, MA received a Paycheck Protection Loan of $3.55M through NEW VALLEY BANK & TRUST, which was approved in April, 2020.

Based on standard PPP eligibility rules, Advance MFG Co, Inc's total 2019 payroll expenses were approximately $17.05M in order to qualify for the PPP loan amount received.

Based on their reported 227 jobs retained, this equals an estimated average yearly compensation of $75,127 per employee1.

Because the loan received by Advance MFG Co, 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 - Advance MFG Co, Inc in Westfield, MA

Advance MFG Co, Inc
8 Turnpike Industrial Rd
Westfield, MA 01085

Business Industry

All Other Miscellaneous Fabricated Metal Product Manufacturing (NAICS code 332999)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MA-01

Industry PPP Comparison Statistics

Nationwide, 4,328 businesses in the "All Other Miscellaneous Fabricated Metal Product Manufacturing" industry received a total of $1,219,008,137.00 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 22 employees, 90% lower than Advance MFG Co, Inc's reported 227 employees, and received an average PPP loan of $281,656, 92% lower than this company's loan of $3.55M.

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.


Have FederalPay.org's open data tools been valuable? Consider donating!

** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/advance-mfg-co-inc-westfield-ma