PPP Loan Data — Akers Packaging Service, Inc., Middletown, OH
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
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.
Business Information - Akers Packaging Service, Inc. in Middletown, OH
2820 Lefferson Road
Middletown, OH 45044
Corrugated and Solid Fiber Box Manufacturing (NAICS code 322211)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional 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.
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.
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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