PPP Loan Data — Buffex Metal Finishing Co Inc, Cleveland, OH
Buffex Metal Finishing Co Inc
Entity: Subchapter S Corporation
Location: Cleveland, OHTweet This • Search All PPP Data
Buffex Metal Finishing Co Inc is a subchapter s corporation located at 1935 W 96th St in Cleveland, Ohio that received a Coronavirus-related PPP loan from the SBA of $24,900.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:PNC Bank, National Association
Buffex Metal Finishing Co Inc in Cleveland, OH received a Paycheck Protection Loan of $24,900 through PNC Bank, National Association, which was approved in April, 2020.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
Based on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, Buffex Metal Finishing Co Inc's 2019 payroll expenses are estimated to be at least $119,520.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $19,920 per employee1
Reported PPP Proceed Usage:
On the PPP application, Buffex Metal Finishing Co Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,900
Business Information - Buffex Metal Finishing Co Inc in Cleveland, OH
1935 W 96th St
Cleveland, OH 44102
Electroplating, Plating, Polishing, Anodizing, and Coloring
NAICS code 332813
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Cleveland
In the Cleveland area, 7 businesses in the "Electroplating, Plating, Polishing, Anodizing, and Coloring" industry received a PPP loan. These local businesses reported an average of 24 employees (compared to this company's 6) and received an average PPP loan of $221,664 (compared to this company's $24,900).
Similar Nearby Businesses Who Received PPP Funding:
Master Chrome Service Inc
The Kelly Plating Company
MPC Plating, LLC
American Metal Treating Company
Abel Metal Processing, Inc
Kyron Plating Corp
Industry PPP Comparison Statistics
Nationwide, 1,840 businesses in the "Electroplating, Plating, Polishing, Anodizing, and Coloring" industry received a total of $484.67M in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 26 employees, 333% higher than Buffex Metal Finishing Co Inc's reported 6 employees, and received an average PPP loan of $263,408, 958% higher than this company's loan of $24,900.
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