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

PPP Loan Data — Alto Products Corp AL, Atmore, AL

ALERT: There are 2 PPP loans for a total of $3.87M in our database for businesses with the name "Alto Products Corp AL" in Atmore, AL. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Alto Products Corp AL
AL

Alto Products Corp AL

Entity: Corporation

Industry: Motor Vehicle Transmission and Power Train Parts Manufacturing

Location: Atmore, AL

Search All PPP Data

Alto Products Corp AL is a corporation located at 1 Alto Way in Atmore, Alabama that received a Coronavirus-related PPP loan from the SBA of $1,947,205.00 in February, 2021.

The company has reported itself as a male owned business, and employed at least 259 people during the applicable loan loan period.

$ PPP Loan Information
Loan #2929538506

Loan Size:

$1.95M

Jobs Retained:

259

Loan Approved:

2021-02-22

Loan Status:

Ongoing Loan

Lender:

United Bank

Alto Products Corp AL in Atmore, AL received a Paycheck Protection Loan of $1.95M through United Bank, which was approved in February, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

Based on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, Alto Products Corp AL's 2019 payroll expenses are estimated to be at least $9.35M.

Based on their reported 259 jobs retained, this equals an estimated average yearly compensation of $36,087 per employee1

Reported PPP Proceed Usage:

On the PPP application, Alto Products Corp AL reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,947,200
  • Utilities: $1

Business Information - Alto Products Corp AL in Atmore, AL

Alto Products Corp AL
1 Alto Way
Atmore, AL 36502

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Male Owned

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: Y

Rural / Urban: Rural

Escambia County, AL — SBA Office 0459 — Congressional District: AL-01

Industry PPP Comparison Statistics

Nationwide, 442 businesses in the "Motor Vehicle Transmission and Power Train Parts Manufacturing" industry received a total of $129.26M in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.

PPP recipients in this industry report an average of 26 employees, 90% lower than Alto Products Corp AL's reported 259 employees, and received an average PPP loan of $292,433, 85% lower than this company's loan of $1.95M.

SBA PPP loan data, payroll data, and salaries for Alto Products Corp AL
AL

Alto Products Corp AL

Entity: Corporation

Industry: Other Motor Vehicle Parts Manufacturing

Location: Atmore, AL

Search All PPP Data

Alto Products Corp AL is a corporation located at 1 Alto Way in Atmore, Alabama that received a Coronavirus-related PPP loan from the SBA of $1,924,066.00 in April, 2020.

The company has reported itself as a male owned business, and employed at least 253 people during the applicable loan loan period.

$ PPP Loan Information
Loan #5941217003

Loan Size:

$1.92M

Jobs Retained:

253

Loan Approved:

2020-04-06

Loan Status:

Ongoing Loan

Lender:

United Bank

Alto Products Corp AL in Atmore, AL received a Paycheck Protection Loan of $1.92M through United Bank, which was approved in April, 2020.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

Based on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, Alto Products Corp AL's 2019 payroll expenses are estimated to be at least $9.24M.

Based on their reported 253 jobs retained, this equals an estimated average yearly compensation of $36,504 per employee1

Reported PPP Proceed Usage:

On the PPP application, Alto Products Corp AL reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,924,066

Business Information - Alto Products Corp AL in Atmore, AL

Alto Products Corp AL
1 Alto Way
Atmore, AL 36502

Business Industry:
Other Motor Vehicle Parts Manufacturing
NAICS code 336390

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Male Owned

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: Y

Rural / Urban: Rural

Escambia County, AL — SBA Office 0459 — Congressional District: AL-01

Industry PPP Comparison Statistics

Nationwide, 1,518 businesses in the "Other Motor Vehicle Parts Manufacturing" industry received a total of $536.65M in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.

PPP recipients in this industry report an average of 32 employees, 87% lower than Alto Products Corp AL's reported 253 employees, and received an average PPP loan of $353,523, 82% lower than this company's loan of $1.92M.

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.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. 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/alto-products-corp-al-atmore-al