PPP Loan Data — Benjamin Steel Company, Inc., Springfield, OH
Benjamin Steel Company, Inc.
Entity: Subchapter S Corporation
Location: Springfield, OHTweet This • Search All PPP Data
Benjamin Steel Company, Inc. is a subchapter s corporation located at 777 Benjamin Dr in Springfield, Ohio that received a Coronavirus-related PPP loan from the SBA of $2,771,375.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 221 people during the applicable loan loan period.
$ PPP Loan Information
Lender:THE PARK NATIONAL BANK
Benjamin Steel Company, Inc. in Springfield, OH received a Paycheck Protection Loan of $2.77M through THE PARK NATIONAL BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Benjamin Steel Company, Inc.'s total 2019 payroll expenses were approximately $13.3M in order to qualify for the PPP loan amount received.
Based on their reported 221 jobs retained, this equals an estimated average yearly compensation of $60,193 per employee1.
Business Information - Benjamin Steel Company, Inc. in Springfield, OH
777 Benjamin Dr
Springfield, OH 45502
Metal Service Centers and Other Metal Merchant Wholesalers (NAICS code 423510)
Business Owner Demographics
Race / Ethnicity: WHITE
Gender: MALE OWNED
Veteran Status: NON-VETERANCongressional District: OH-08
Industry PPP Comparison Statistics
Nationwide, 2,691 businesses in the "Metal Service Centers and Other Metal Merchant Wholesalers" industry received a total of $697,432,843.00 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 18 employees, 92% lower than Benjamin Steel Company, Inc.'s reported 221 employees, and received an average PPP loan of $259,172, 91% lower than this company's loan of $2.77M.
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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