PPP Loan Data — Custom Metalcraft, Springfield, MO
Custom Metalcraft is a corporation located at 2332 E Division in Springfield, Missouri that received a Coronavirus-related PPP loan from the SBA of $1,737,500.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Central Bank of the Ozarks
Custom Metalcraft in Springfield, MO received a Paycheck Protection Loan of $1.74M through Central Bank of the Ozarks, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in February, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
Based 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, Custom Metalcraft's 2019 payroll expenses are estimated to be at least $8.34M.
Based on their reported 140 jobs retained, this equals an estimated average yearly compensation of $59,571 per employee1
Reported PPP Proceed Usage:
On the PPP application, Custom Metalcraft reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,390,000
- Utilities: $173,750
- Mortgage Interest: $173,750
Business Information - Custom Metalcraft in Springfield, MO
2332 E Division
Springfield, MO 65803
Metal Tank (Heavy Gauge) Manufacturing
NAICS code 332420
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Springfield
In the Springfield area, 8 businesses in the "Metal Tank (Heavy Gauge) Manufacturing" industry received a PPP loan. These local businesses reported an average of 131 employees (compared to this company's 140) and received an average PPP loan of $1,156,039 (compared to this company's $1.74M).
Similar Nearby Businesses Who Received PPP Funding:
Integrated Containment Systems, LLC
Paul Mueller Company
Tank Components LLC
G2 Material Handling, Inc
Custom Powder Systems, LLC
Industry PPP Comparison Statistics
Nationwide, 482 businesses in the "Metal Tank (Heavy Gauge) Manufacturing" industry received a total of $253.25M 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, 70% lower than Custom Metalcraft's reported 140 employees, and received an average PPP loan of $525,407, 70% lower than this company's loan of $1.74M.
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Footnotes & Information
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