PPP Loan Data — Clow Stamping Company, Inc., Merrifield, MN
Clow Stamping Company, Inc.
Location: Merrifield, MNTweet This • Search All PPP Data
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
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.
Business Information - Clow Stamping Company, Inc. in Merrifield, MN
23103 County Road 3
Merrifield, MN 56465
Metal Crown, Closure, and Other Metal Stamping (except Automotive) (NAICS code 332119)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional 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.
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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