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PPP Loan Data — Aero Industries Inc, Indianapolis, IN

SBA PPP loan data, payroll data, and salaries for Aero Industries Inc
IN

Aero Industries Inc

Entity: Corporation

Industry: Textile Bag and Canvas Mills

Location: Indianapolis, IN

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Aero Industries Inc is a corporation located at 4243 W Bradrury in Indianapolis, Indiana that received a Coronavirus-related PPP loan from the SBA of $2,519,200.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.52M

Jobs Retained:

233

Loan Approved:

2020-04-14

Lender:

OLD NATIONAL BANK

Aero Industries Inc in Indianapolis, IN received a Paycheck Protection Loan of $2.52M through OLD NATIONAL BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Aero Industries Inc's total 2019 payroll expenses were approximately $12.09M in order to qualify for the PPP loan amount received.

Based on their reported 233 jobs retained, this equals an estimated average yearly compensation of $51,898 per employee1.

Because the loan received by Aero 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 - Aero Industries Inc in Indianapolis, IN

Aero Industries Inc
4243 W Bradrury
Indianapolis, IN 46241

Business Industry

Textile Bag and Canvas Mills (NAICS code 314910)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: IN-07

Industry PPP Comparison Statistics

Nationwide, 604 businesses in the "Textile Bag and Canvas Mills" industry received a total of $94,204,855.00 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, 94% lower than Aero Industries Inc's reported 233 employees, and received an average PPP loan of $155,968, 94% lower than this company's loan of $2.52M.

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/aero-industries-inc-indianapolis-in