PPP Loan Data — Elsa LLC, Elwood, IN
Elsa LLC is a limited liability company (LLC) located at 1240 S State Rd 37 in Elwood, Indiana that received a Coronavirus-related PPP loan from the SBA of $3,750,000.00 in April, 2020.
$ PPP Loan Information
Lender:OLD NATIONAL BANK
Elsa LLC received a Paycheck Protection Loan of $3.75M through OLD NATIONAL BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Elsa LLC's total 2019 payroll expenses were approximately $18M in order to qualify for the PPP loan amount received.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $36,000 per employee1.
Business Information - Elsa LLC in Elwood, IN
1240 S State Rd 37
Elwood, IN 46036
Other Motor Vehicle Parts Manufacturing (NAICS code 336390)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: IN-05
Industry PPP Comparison Statistics
Nationwide, 1,012 businesses in the "Other Motor Vehicle Parts Manufacturing" industry received a total of $430,804,983.00 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 33 employees, 93% lower than Elsa LLC's reported 500 employees, and received an average PPP loan of $425,697, 89% lower than this company's loan of $3.75M.
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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) 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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