PPP Loan Data — Century Foam LLC, Elkhart, IN
Century Foam LLC
Entity: Subchapter S Corporation
Location: Elkhart, INTweet This • Search All PPP Data
Century Foam LLC is a subchapter s corporation located at 2600 South Nappanee Street in Elkhart, Indiana that received a Coronavirus-related PPP loan from the SBA of $1,626,800.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 158 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:1st Source Bank
Century Foam LLC in Elkhart, IN received a Paycheck Protection Loan of $1.63M through 1st Source Bank, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in March, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.Read More
Understanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.Read More
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, Century Foam LLC's 2019 payroll expenses are estimated to be at least $7.81M.
Based on their reported 158 jobs retained, this equals an estimated average yearly compensation of $49,422 per employee1
Reported PPP Proceed Usage:
On the PPP application, Century Foam LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,626,800
Business Information - Century Foam LLC in Elkhart, IN
2600 South Nappanee Street
Elkhart, IN 46517
Urethane and Other Foam Product (except Polystyrene) Manufacturing
NAICS code 326150
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Elkhart
In the Elkhart area, 4 businesses in the "Urethane and Other Foam Product (except Polystyrene) Manufacturing" industry received a PPP loan. These local businesses reported an average of 105 employees (compared to this company's 158) and received an average PPP loan of $965,818 (compared to this company's $1.63M).
Similar Nearby Businesses Who Received PPP Funding:
Cutter's Foam Fabricating, Inc
Exemplary Foam LLC
Industry PPP Comparison Statistics
Nationwide, 445 businesses in the "Urethane and Other Foam Product (except Polystyrene) Manufacturing" industry received a total of $154.94M 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 35 employees, 78% lower than Century Foam LLC's reported 158 employees, and received an average PPP loan of $348,172, 79% lower than this company's loan of $1.63M.
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Footnotes & Information
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