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PPP Loan Data — BRC Rubber & Plastics Inc, Fort Wayne, IN

SBA PPP loan data, payroll data, and salaries for BRC Rubber & Plastics Inc
IN

BRC Rubber & Plastics Inc

Entity: Subchapter S Corporation

Industry: Rubber Product Manufacturing for Mechanical Use

Location: Fort Wayne, IN

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BRC Rubber & Plastics Inc is a subchapter s corporation located at 1029 W State Blvd, Suite A in Fort Wayne, Indiana that received a Coronavirus-related PPP loan from the SBA of $5,372,400.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$5.37M

Jobs Retained:

500

Loan Approved:

2020-04-11

Lender:

STAR FINANCIAL BANK

BRC Rubber & Plastics Inc in Fort Wayne, IN received a Paycheck Protection Loan of $5.37M through STAR FINANCIAL BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, BRC Rubber & Plastics Inc's total 2019 payroll expenses were approximately $25.79M 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 $51,575 per employee1.

Because the loan received by BRC Rubber & Plastics 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 - BRC Rubber & Plastics Inc in Fort Wayne, IN

BRC Rubber & Plastics Inc
1029 W State Blvd, Suite A
Fort Wayne, IN 46808

Business Industry

Rubber Product Manufacturing for Mechanical Use (NAICS code 326291)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: IN-03

Industry PPP Comparison Statistics

Nationwide, 177 businesses in the "Rubber Product Manufacturing for Mechanical Use" industry received a total of $97,714,291.00 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 45 employees, 91% lower than BRC Rubber & Plastics Inc's reported 500 employees, and received an average PPP loan of $552,058, 90% lower than this company's loan of $5.37M.

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.

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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/brc-rubber-and-plastics-inc-fort-wayne-in