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PPP Loan Data — Akers Packaging Service, Inc., Middletown, OH

SBA PPP loan data, payroll data, and salaries for Akers Packaging Service, Inc.
OH

Akers Packaging Service, Inc.

Entity: Subchapter S Corporation

Industry: Corrugated and Solid Fiber Box Manufacturing

Location: Middletown, OH

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Akers Packaging Service, Inc. is a subchapter s corporation located at 2820 Lefferson Road in Middletown, Ohio that received a Coronavirus-related PPP loan from the SBA of $3,534,815.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.53M

Jobs Retained:

242

Loan Approved:

2020-04-14

Lender:

JPMORGAN CHASE BANK, NATIONAL ASSOCIATION

Akers Packaging Service, Inc. in Middletown, OH received a Paycheck Protection Loan of $3.53M through JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Akers Packaging Service, Inc.'s total 2019 payroll expenses were approximately $16.97M in order to qualify for the PPP loan amount received.

Based on their reported 242 jobs retained, this equals an estimated average yearly compensation of $70,112 per employee1.

Because the loan received by Akers Packaging Service, 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 - Akers Packaging Service, Inc. in Middletown, OH

Akers Packaging Service, Inc.
2820 Lefferson Road
Middletown, OH 45044

Business Industry

Corrugated and Solid Fiber Box Manufacturing (NAICS code 322211)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: OH-08

Similar Companies near Middletown

In the Middletown area, 2 businesses in the "Corrugated and Solid Fiber Box Manufacturing" industry received a PPP loan. These local businesses reported an average of 171 employees (compared to this company's 242) and received an average PPP loan of $2,242,895 (compared to this company's $3.53M).

Similar Nearby Businesses Who Received PPP Funding:

Honey Cell, Inc.
Middletown, OH

$950,975 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 520 businesses in the "Corrugated and Solid Fiber Box Manufacturing" industry received a total of $288,157,321.00 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 43 employees, 82% lower than Akers Packaging Service, Inc.'s reported 242 employees, and received an average PPP loan of $554,149, 84% lower than this company's loan of $3.53M.

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/akers-packaging-service-inc-middletown-oh