PPP Loan Data — Danville Metal Stamping Co, Inc., Danville, IL
Danville Metal Stamping Co, Inc. is a subchapter s corporation located at 20 Oakwood Ave in Danville, Illinois that received a Coronavirus-related PPP loan from the SBA of $6,258,000.00 in April, 2020.
$ PPP Loan Information
Lender:OLD NATIONAL BANK
Danville Metal Stamping Co, Inc. in Danville, IL received a Paycheck Protection Loan of $6.26M through OLD NATIONAL BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Danville Metal Stamping Co, Inc.'s total 2019 payroll expenses were approximately $30.04M in order to qualify for the PPP loan amount received.
Based on their reported 476 jobs retained, this equals an estimated average yearly compensation of $63,106 per employee1.
Business Information - Danville Metal Stamping Co, Inc. in Danville, IL
20 Oakwood Ave
Danville, IL 61832
Aircraft Engine and Engine Parts Manufacturing (NAICS code 336412)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: IL-15
Industry PPP Comparison Statistics
Nationwide, 449 businesses in the "Aircraft Engine and Engine Parts Manufacturing" industry received a total of $220,243,418.00 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, 93% lower than Danville Metal Stamping Co, Inc.'s reported 476 employees, and received an average PPP loan of $490,520, 92% lower than this company's loan of $6.26M.
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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