PPP Loan Data — Aerospace Alloys Inc, Bloomfield, CT
Aerospace Alloys Inc is a corporation located at 11 Britton Dr in Bloomfield, Connecticut that received a Coronavirus-related PPP loan from the SBA of $402,500.00 in April, 2020.
$ PPP Loan Information
Lender:PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION
Aerospace Alloys Inc received a Paycheck Protection Loan of $402,500 through PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Aerospace Alloys Inc's total 2019 payroll expenses were approximately $1.93M in order to qualify for the PPP loan amount received.
Based on their reported 47 jobs retained, this equals an estimated average yearly compensation of $41,106 per employee1.
Business Information - Aerospace Alloys Inc in Bloomfield, CT
11 Britton Dr
Bloomfield, CT 6002
Aircraft Engine and Engine Parts Manufacturing (NAICS code 336412)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: CT-01
Similar Companies near Bloomfield
In the Bloomfield area, 3 businesses in the "Aircraft Engine and Engine Parts Manufacturing" industry received a PPP loan. These local businesses reported an average of 60 employees (compared to this company's 47) and received an average PPP loan of $1,715,648 (compared to this company's $402,500).
Similar Nearby Businesses Who Received PPP Funding:
Turbine Controls, Inc.
Birken MFG Company
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, 32% lower than Aerospace Alloys Inc's reported 47 employees, and received an average PPP loan of $490,520, 22% higher than this company's loan of $402,500.
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. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
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!