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PPP Loan Data — Clow Stamping Company, Inc., Merrifield, MN

SBA PPP loan data, payroll data, and salaries for Clow Stamping Company, Inc.
MN

Clow Stamping Company, Inc.

Entity: Corporation

Industry: Metal Crown, Closure, and Other Metal Stamping (except Automotive)

Location: Merrifield, MN

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Clow Stamping Company, Inc. is a corporation located at 23103 County Road 3 in Merrifield, Minnesota that received a Coronavirus-related PPP loan from the SBA of $5,126,334.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$5.13M

Jobs Retained:

460

Loan Approved:

2020-04-07

Lender:

FIDELITY BANK

Clow Stamping Company, Inc. in Merrifield, MN received a Paycheck Protection Loan of $5.13M through FIDELITY BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Clow Stamping Company, Inc.'s total 2019 payroll expenses were approximately $24.61M in order to qualify for the PPP loan amount received.

Based on their reported 460 jobs retained, this equals an estimated average yearly compensation of $53,492 per employee1.

Because the loan received by Clow Stamping Company, 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 - Clow Stamping Company, Inc. in Merrifield, MN

Clow Stamping Company, Inc.
23103 County Road 3
Merrifield, MN 56465

Business Industry

Metal Crown, Closure, and Other Metal Stamping (except Automotive) (NAICS code 332119)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MN-08

Industry PPP Comparison Statistics

Nationwide, 688 businesses in the "Metal Crown, Closure, and Other Metal Stamping (except Automotive)" industry received a total of $316,503,616.00 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 35 employees, 92% lower than Clow Stamping Company, Inc.'s reported 460 employees, and received an average PPP loan of $460,034, 91% lower than this company's loan of $5.13M.

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, 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/clow-stamping-company-inc-merrifield-mn