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PPP Loan Data — Custom Aluminum Products Inc., South Elgin, IL

SBA PPP loan data, payroll data, and salaries for Custom Aluminum Products Inc.
IL

Custom Aluminum Products Inc.

Entity: Corporation

Industry: Aluminum Sheet, Plate, and Foil Manufacturing

Location: South Elgin, IL

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Custom Aluminum Products Inc. is a corporation located at 414 Division Street in South Elgin, Illinois that received a Coronavirus-related PPP loan from the SBA of $4,918,000.00 in April, 2020.

The company has reported itself as a male owned business, and employed at least 389 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$4.92M

Jobs Retained:

389

Loan Approved:

2020-04-07

Lender:

UNION NATIONAL BANK

Custom Aluminum Products Inc. in South Elgin, IL received a Paycheck Protection Loan of $4.92M through UNION NATIONAL BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Custom Aluminum Products Inc.'s total 2019 payroll expenses were approximately $23.61M in order to qualify for the PPP loan amount received.

Based on their reported 389 jobs retained, this equals an estimated average yearly compensation of $60,685 per employee1.

Because the loan received by Custom Aluminum Products 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 - Custom Aluminum Products Inc. in South Elgin, IL

Custom Aluminum Products Inc.
414 Division Street
South Elgin, IL 60177

Business Industry

Aluminum Sheet, Plate, and Foil Manufacturing (NAICS code 331315)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: MALE OWNED

Veteran Status: NON-VETERAN

Congressional District: IL-08

Industry PPP Comparison Statistics

Nationwide, 123 businesses in the "Aluminum Sheet, Plate, and Foil Manufacturing" industry received a total of $46,131,944.00 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 32 employees, 92% lower than Custom Aluminum Products Inc.'s reported 389 employees, and received an average PPP loan of $375,056, 92% lower than this company's loan of $4.92M.

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/custom-aluminum-products-inc-south-elgin-il