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PPP Loan Data — Clarion Sintered Metals Inc,
Ridgway, 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 Po Box S 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 #4803418008
Loan Size:
Jobs Retained:
231Loan Approved:
2020-06-26Loan Status:
Ongoing LoanLender:
The Farmers National Bank of EmlentonClarion Sintered Metals Inc in Ridgway, PA received a Paycheck Protection Loan of $3.12M through The Farmers National Bank of Emlenton, which was approved in June, 2020.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
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 MoreUnderstanding 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 MoreBased 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, Clarion Sintered Metals Inc's 2019 payroll expenses are estimated to be at least $15M.
Based on their reported 231 jobs retained, this equals an estimated average yearly compensation of $64,927 per employee1
Reported PPP Proceed Usage:
On the PPP application, Clarion Sintered Metals Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $3,124,600
Business Information - Clarion Sintered Metals Inc in Ridgway, PA
3472 Montmorenci Rd Po Box S
Ridgway, PA 15853
Business Industry:
Powder Metallurgy Part Manufacturing
NAICS code 332117
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
Similar Companies near Ridgway
In the Ridgway area, 12 businesses in the "Powder Metallurgy Part Manufacturing" industry received a PPP loan. These local businesses reported an average of 42 employees (compared to this company's 231) and received an average PPP loan of $442,242 (compared to this company's $3.12M).
Similar Nearby Businesses Who Received PPP Funding:
St Marys Pressed Metals Inc
Ridgway, PA
Allegheny Blending Technologies Inc
Ridgway, PA
Elk County Powdered Metal, Inc
Ridgway, PA
Continuous Metal Technology Inc
Ridgway, PA
Intech Acquisition Company
Ridgway, PA
Form Fast Powder Material Technologies, LLC
Ridgway, PA
Ridgway Powdered Metals Inc
Ridgway, PA
Arete Qis LLC
Ridgway, PA
Industry PPP Comparison Statistics
Nationwide, 239 businesses in the "Powder Metallurgy Part Manufacturing" industry received a total of $110.54M 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 42 employees, 82% lower than Clarion Sintered Metals Inc's reported 231 employees, and received an average PPP loan of $462,520, 85% 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. 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.
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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