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PPP Loan Data — Bertch Cabinet MFG, Inc, Waterloo, IA

SBA PPP loan data, payroll data, and salaries for Bertch Cabinet MFG, Inc
IA

Bertch Cabinet MFG, Inc

Entity: Corporation

Industry: Wood Kitchen Cabinet and Countertop Manufacturing

Location: Waterloo, IA

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Bertch Cabinet MFG, Inc is a corporation located at 4747 Crestwood Drive in Waterloo, Iowa that received a Coronavirus-related PPP loan from the SBA of $6,147,500.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$6.15M

Jobs Retained:

500

Loan Approved:

2020-04-04

Lender:

FARMERS STATE BANK

Bertch Cabinet MFG, Inc received a Paycheck Protection Loan of $6.15M through FARMERS STATE BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Bertch Cabinet MFG, Inc's total 2019 payroll expenses were approximately $29.51M in order to qualify for the PPP loan amount received.

Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $59,016 per employee1.

Because the loan received by Bertch Cabinet MFG, Inc 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 - Bertch Cabinet MFG, Inc in Waterloo, IA

Bertch Cabinet MFG, Inc
4747 Crestwood Drive
Waterloo, IA 50702

Business Industry

Wood Kitchen Cabinet and Countertop Manufacturing (NAICS code 337110)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: IA-01

Similar Companies near Waterloo

In the Waterloo area, 2 businesses in the "Wood Kitchen Cabinet and Countertop Manufacturing" industry received a PPP loan. These local businesses reported an average of 253 employees (compared to this company's 500) and received an average PPP loan of $3,097,418 (compared to this company's $6.15M).

Similar Nearby Businesses Who Received PPP Funding:

Keith L Haycraft
Washburn, IA

$47,335 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 5,439 businesses in the "Wood Kitchen Cabinet and Countertop Manufacturing" industry received a total of $649,251,122.00 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 11 employees, 98% lower than Bertch Cabinet MFG, Inc's reported 500 employees, and received an average PPP loan of $119,370, 98% lower than this company's loan of $6.15M.

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.

Search FederalPay's Full PPP Loan Database

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/bertch-cabinet-mfg-inc-waterloo-ia