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PPP Loan Data — Claridge Products And Equipment, Inc, Harrison, AR

SBA PPP loan data, payroll data, and salaries for Claridge Products And Equipment, Inc
AR

Claridge Products And Equipment, Inc

Entity: Subchapter S Corporation

Industry: Showcase, Partition, Shelving, and Locker Manufacturing

Location: Harrison, AR

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Claridge Products And Equipment, Inc is a subchapter s corporation located at Highway 62 65 in Harrison, Arkansas that received a Coronavirus-related PPP loan from the SBA of $3,836,100.00 in April, 2020.

$ PPP Loan Information
Loan #8507697008

Loan Size:

$3.84M

Jobs Retained:

437

Loan Approved:

2020-04-08

Loan Status:

Paid in Full or Forgiven

Lender:

Equity Bank

Claridge Products And Equipment, Inc in Harrison, AR received a Paycheck Protection Loan of $3.84M through Equity 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 May, 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, Claridge Products And Equipment, Inc's 2019 payroll expenses are estimated to be at least $18.41M.

Based on their reported 437 jobs retained, this equals an estimated average yearly compensation of $42,136 per employee1

Reported PPP Proceed Usage:

On the PPP application, Claridge Products And Equipment, Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $3,836,100
Because the loan received by Claridge Products And Equipment, 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 - Claridge Products And Equipment, Inc in Harrison, AR

Claridge Products And Equipment, Inc
Highway 62 65
Harrison, AR 72601

Business Industry:
Showcase, Partition, Shelving, and Locker Manufacturing
NAICS code 337215

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Rural

Boone County, AR — SBA Office 0669 — Congressional District: AR-03

Businesses Using Same Address:

There are 2 other businesses that received a PPP loan registered to the same address as Claridge Products And Equipment, Inc.

Ozark Chiropractic Arts, Inc
Offices of Chiropractors

$13,000 PPP Loan

Auto Medics Pro, LLC
General Automotive Repair

$79,900 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 736 businesses in the "Showcase, Partition, Shelving, and Locker Manufacturing" industry received a total of $241.21M 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 29 employees, 93% lower than Claridge Products And Equipment, Inc's reported 437 employees, and received an average PPP loan of $327,730, 91% lower than this company's loan of $3.84M.

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. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. 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/claridge-products-and-equipment-inc-harrison-ar