PPP Loan Data — Custom Plastic Industries, Waterloo, WI
Custom Plastic Industries is a corporation located at N7371 Jungle Ln in Waterloo, Wisconsin that received a Coronavirus-related PPP loan from the SBA of $25,085.00 in January, 2021.
The company has reported itself as a male owned business, and employed at least five people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Farmers & Merchants State Bank
Custom Plastic Industries in Waterloo, WI received a Paycheck Protection Loan of $25,085 through Farmers & Merchants State Bank, which was approved in January, 2021.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
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 Plastic Industries' 2019 payroll expenses are estimated to be at least $120,408.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $24,082 per employee1
Reported PPP Proceed Usage:
On the PPP application, Custom Plastic Industries reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,083
- Utilities: $1
Business Information - Custom Plastic Industries in Waterloo, WI
N7371 Jungle Ln
Waterloo, WI 53594
Plastics Material and Resin Manufacturing
NAICS code 325211
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Waterloo
In the Waterloo area, 4 businesses in the "Plastics Material and Resin Manufacturing" industry received a PPP loan. These local businesses reported an average of 25 employees (compared to this company's 5) and received an average PPP loan of $256,170 (compared to this company's $25,085).
Similar Nearby Businesses Who Received PPP Funding:
Custom Plastic Industries, Inc
Engineering Industries, Inc
Industry PPP Comparison Statistics
Nationwide, 1,370 businesses in the "Plastics Material and Resin Manufacturing" industry received a total of $412.62M 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 27 employees, 440% higher than Custom Plastic Industries' reported 5 employees, and received an average PPP loan of $301,185, 1101% higher than this company's loan of $25,085.
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Footnotes & Information
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