PPP Loan Data — Custom Aluminum Products Inc., South Elgin, IL
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
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.
Business Information - Custom Aluminum Products Inc. in South Elgin, IL
414 Division Street
South Elgin, IL 60177
Aluminum Sheet, Plate, and Foil Manufacturing (NAICS code 331315)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: MALE OWNED
Veteran Status: NON-VETERANCongressional 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.
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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