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PPP Loan Data — American Resources Corporation, Fishers, IN

SBA PPP loan data, payroll data, and salaries for American Resources Corporation
IN

American Resources Corporation

Entity: Corporation

Industry: Iron Ore Mining

Location: Fishers, IN

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American Resources Corporation is a corporation located at 12115 Visionary Way in Fishers, Indiana that received a Coronavirus-related PPP loan from the SBA of $2,649,800.00 in April, 2020.

The company has reported itself as a White male owned business, and employed at least 238 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$2.65M

Jobs Retained:

238

Loan Approved:

2020-04-13

Lender:

MERCHANTS BANK OF INDIANA

American Resources Corporation received a Paycheck Protection Loan of $2.65M through MERCHANTS BANK OF INDIANA, which was approved in April, 2020.

Based on standard PPP eligibility rules, American Resources Corporation's total 2019 payroll expenses were approximately $12.72M in order to qualify for the PPP loan amount received.

Based on their reported 238 jobs retained, this equals an estimated average yearly compensation of $53,441 per employee1.

Because the loan received by American Resources Corporation 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 - American Resources Corporation in Fishers, IN

American Resources Corporation
12115 Visionary Way
Fishers, IN 46038

Business Industry

Iron Ore Mining (NAICS code 212210)

Business Owner Demographics

Race / Ethnicity: WHITE

Gender: MALE OWNED

Veteran Status: NON-VETERAN

Congressional District: IN-05

Industry PPP Comparison Statistics

Nationwide, 27 businesses in the "Iron Ore Mining" industry received a total of $5,295,854.00 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 16 employees, 93% lower than American Resources Corporation's reported 238 employees, and received an average PPP loan of $196,143, 93% lower than this company's loan of $2.65M.

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.

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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/american-resources-corporation-fishers-in