PPP Loan Data — East End Welding, LLP, Kent, OH
East End Welding, LLP
Entity: Limited Liability Partnership
Location: Kent, OHTweet This • Search All PPP Data
East End Welding, LLP is a limited liability partnership located at 357 Tallmadge Rd in Kent, Ohio that received a Coronavirus-related PPP loan from the SBA of $1,532,520.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
East End Welding, LLP in Kent, OH received a Paycheck Protection Loan of $1.53M through Brookline Bank, 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, East End Welding, LLP's 2019 payroll expenses are estimated to be at least $7.36M.
Based on their reported 74 jobs retained, this equals an estimated average yearly compensation of $99,407 per employee1
Reported PPP Proceed Usage:
On the PPP application, East End Welding, LLP reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,149,390
- Utilities: $153,252
- Rent: $229,878
Business Information - East End Welding, LLP in Kent, OH
357 Tallmadge Rd
Kent, OH 44240
Rolling Mill and Other Metalworking Machinery Manufacturing
NAICS code 333519
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 480 businesses in the "Rolling Mill and Other Metalworking Machinery Manufacturing" industry received a total of $135.18M 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 23 employees, 69% lower than East End Welding, LLP's reported 74 employees, and received an average PPP loan of $281,632, 82% lower than this company's loan of $1.53M.
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Footnotes & Information
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