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PPP Loan Data — Clarion Sintered Metals Inc, Ridgway, PA

SBA PPP loan data, payroll data, and salaries for Clarion Sintered Metals Inc
PA

Clarion Sintered Metals Inc

Entity: Corporation

Industry: Powder Metallurgy Part Manufacturing

Location: Ridgway, PA

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Clarion Sintered Metals Inc is a corporation located at 3472 Montmorenci Rd in Ridgway, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $3,124,600.00 in June, 2020.

$ PPP Loan Information

Loan Size:

$3.12M

Jobs Retained:

231

Loan Approved:

2020-06-26

Lender:

THE FARMERS NATIONAL BANK OF EMLENTON

Clarion Sintered Metals Inc received a Paycheck Protection Loan of $3.12M through THE FARMERS NATIONAL BANK OF EMLENTON, which was approved in June, 2020.

Based on standard PPP eligibility rules, Clarion Sintered Metals Inc's total 2019 payroll expenses were approximately $15M in order to qualify for the PPP loan amount received.

Based on their reported 231 jobs retained, this equals an estimated average yearly compensation of $64,927 per employee1.

Because the loan received by Clarion Sintered Metals 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 - Clarion Sintered Metals Inc in Ridgway, PA

Clarion Sintered Metals Inc
3472 Montmorenci Rd
Ridgway, PA 15853

Business Industry

Powder Metallurgy Part Manufacturing (NAICS code 332117)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: PA-15

Similar Companies near Ridgway

In the Ridgway area, 8 businesses in the "Powder Metallurgy Part Manufacturing" industry received a PPP loan. These local businesses reported an average of 51 employees (compared to this company's 231) and received an average PPP loan of $578,348 (compared to this company's $3.12M).

Industry PPP Comparison Statistics

Nationwide, 152 businesses in the "Powder Metallurgy Part Manufacturing" industry received a total of $80,841,045.00 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, 81% lower than Clarion Sintered Metals Inc's reported 231 employees, and received an average PPP loan of $531,849, 83% lower than this company's loan of $3.12M.

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.

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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/clarion-sintered-metals-inc-ridgway-pa