PPP Loan Data — Barnes International, Inc., Rockford, IL
Barnes International, Inc. is a subchapter s corporation located at 814 Chestnut Street in Rockford, Illinois that received a Coronavirus-related PPP loan from the SBA of $2,575,900.00 in April, 2020.
The company has reported itself as a White female owned business, and employed at least 153 people during the applicable loan loan period.
$ PPP Loan Information
Lender:NORTHWEST BANK OF ROCKFORD
Barnes International, Inc. in Rockford, IL received a Paycheck Protection Loan of $2.58M through NORTHWEST BANK OF ROCKFORD, which was approved in April, 2020.
Based on standard PPP eligibility rules, Barnes International, Inc.'s total 2019 payroll expenses were approximately $12.36M in order to qualify for the PPP loan amount received.
Based on their reported 153 jobs retained, this equals an estimated average yearly compensation of $80,813 per employee1.
Business Information - Barnes International, Inc. in Rockford, IL
814 Chestnut Street
Rockford, IL 61102
Industrial Mold Manufacturing (NAICS code 333511)
Business Owner Demographics
Race / Ethnicity: WHITE
Gender: FEMALE OWNED
Veteran Status: UnreportedCongressional District: IL-17
Industry PPP Comparison Statistics
Nationwide, 709 businesses in the "Industrial Mold Manufacturing" industry received a total of $233,949,824.00 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 24 employees, 84% lower than Barnes International, Inc.'s reported 153 employees, and received an average PPP loan of $329,972, 87% lower than this company's loan of $2.58M.
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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