PPP Loan Data — American Roller Bearing, Hickory, NC
American Roller Bearing
Location: Hickory, NCTweet This • Search All PPP Data
American Roller Bearing is a corporation located at 1441 4th St Nw in Hickory, North Carolina that received a Coronavirus-related PPP loan from the SBA of $3,504,480.00 in April, 2020.
$ PPP Loan Information
Lender:TCF NATIONAL BANK
American Roller Bearing received a Paycheck Protection Loan of $3.5M through TCF NATIONAL BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, American Roller Bearing's total 2019 payroll expenses were approximately $16.82M in order to qualify for the PPP loan amount received.
Based on their reported 263 jobs retained, this equals an estimated average yearly compensation of $63,960 per employee1.
Business Information - American Roller Bearing in Hickory, NC
1441 4th St Nw
Hickory, NC 28603
Industrial Machinery and Equipment Merchant Wholesalers (NAICS code 423830)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: NC-10
Similar Companies near Hickory
In the Hickory area, 4 businesses in the "Industrial Machinery and Equipment Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 69 employees (compared to this company's 263) and received an average PPP loan of $935,532 (compared to this company's $3.5M).
Similar Nearby Businesses Who Received PPP Funding:
EHI Installations Incorporated
Banner Elk Brewing Company, LLC
Banner Elk, NC
Industry PPP Comparison Statistics
Nationwide, 7,320 businesses in the "Industrial Machinery and Equipment Merchant Wholesalers" industry received a total of $1,713,685,837.00 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 15 employees, 94% lower than American Roller Bearing's reported 263 employees, and received an average PPP loan of $234,110, 93% lower than this company's loan of $3.5M.
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.
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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