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PPP Loan Data — Cascade Die Casting Group, Inc., Grand Rapids, MI

SBA PPP loan data, payroll data, and salaries for Cascade Die Casting Group, Inc.
MI

Cascade Die Casting Group, Inc.

Entity: Corporation

Industry: Nonferrous Metal Die-Casting Foundries

Location: Grand Rapids, MI

Search All PPP Data

Cascade Die Casting Group, Inc. is a corporation located at 7441 S. Division in Grand Rapids, Michigan that received a Coronavirus-related PPP loan from the SBA of $5,498,775.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$5.5M

Jobs Retained:

492

Loan Approved:

2020-04-10

Lender:

TCF NATIONAL BANK

Cascade Die Casting Group, Inc. received a Paycheck Protection Loan of $5.5M through TCF NATIONAL BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Cascade Die Casting Group, Inc.'s total 2019 payroll expenses were approximately $26.39M in order to qualify for the PPP loan amount received.

Based on their reported 492 jobs retained, this equals an estimated average yearly compensation of $53,647 per employee1.

Because the loan received by Cascade Die Casting Group, 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 - Cascade Die Casting Group, Inc. in Grand Rapids, MI

Cascade Die Casting Group, Inc.
7441 S. Division
Grand Rapids, MI 49548

Business Industry

Nonferrous Metal Die-Casting Foundries (NAICS code 331523)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MI-02

Similar Companies near Grand Rapids

In the Grand Rapids area, 2 businesses in the "Nonferrous Metal Die-Casting Foundries" industry received a PPP loan. These local businesses reported an average of 246 employees (compared to this company's 492) and received an average PPP loan of $3,152,538 (compared to this company's $5.5M).

Similar Nearby Businesses Who Received PPP Funding:

WIL-Kast, Inc
Grand Rapids, MI

$806,300 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 236 businesses in the "Nonferrous Metal Die-Casting Foundries" industry received a total of $134,971,600.00 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 46 employees, 91% lower than Cascade Die Casting Group, Inc.'s reported 492 employees, and received an average PPP loan of $571,914, 90% lower than this company's loan of $5.5M.

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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Source: www.federalpay.org/paycheck-protection-program/cascade-die-casting-group-inc-grand-rapids-mi