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PPP Loan Data — Esmark Steel Group LLC,
Sewickley, PA
Esmark Steel Group LLC
Entity: Limited Liability Company (LLC)
Industry: Metal Service Centers and Other Metal Merchant Wholesalers
Location: Sewickley, PA
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Esmark Steel Group LLC is a limited liability company (LLC) located at 100 Hazel Ln in Sewickley, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in February, 2021.
$
PPP Loan Information
Loan #4030848408
Loan Size:
Jobs Retained:
170Loan Approved:
2021-02-05Loan Status:
Ongoing LoanLender:
BMO Harris Bank National AssociationEsmark Steel Group LLC in Sewickley, PA received a Paycheck Protection Loan of $2M through BMO Harris Bank National Association, which was approved in February, 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
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Esmark Steel Group LLC's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 170 jobs retained, this equals an estimated average yearly compensation of $56,471 per employee1
Reported PPP Proceed Usage:
On the PPP application, Esmark Steel Group LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,997
- Utilities: $1
Business Information - Esmark Steel Group LLC in Sewickley, PA
100 Hazel Ln
Sewickley, PA 15143
Business Industry:
Metal Service Centers and Other Metal Merchant Wholesalers
NAICS code 423510
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Businesses Using Same Address:
There are 2 other businesses that received a PPP loan registered to the same address as Esmark Steel Group LLC.
TF Asset Management LLC
Other Management Consulting Services
Johnstown Sports Partners LLC
Sports Teams and Clubs
Similar Companies near Sewickley
In the Sewickley area, 6 businesses in the "Metal Service Centers and Other Metal Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 68 employees (compared to this company's 170) and received an average PPP loan of $974,156 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
The A588 & A572 Steel Company
Sewickley, PA
Archer Steel Co
Sewickley, PA
Simple Foundry LLC
Sewickley, PA
CWA Inc
Sewickley, PA
Industry PPP Comparison Statistics
Nationwide, 4,157 businesses in the "Metal Service Centers and Other Metal Merchant Wholesalers" industry received a total of $970.6M 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 19 employees, 89% lower than Esmark Steel Group LLC's reported 170 employees, and received an average PPP loan of $233,486, 88% lower than this company's loan of $2M.
Esmark Steel Group LLC
Entity: Limited Liability Company (LLC)
Industry: Metal Service Centers and Other Metal Merchant Wholesalers
Location: Sewickley, PA
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Esmark Steel Group LLC is a limited liability company (LLC) located at 100 Hazel Ln in Sewickley, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $3,232,200.00 in April, 2020.
$
PPP Loan Information
Loan #9345077000
Loan Size:
Jobs Retained:
198Loan Approved:
2020-04-09Loan Status:
Paid in Full or ForgivenLender:
BMO Harris Bank National AssociationEsmark Steel Group LLC in Sewickley, PA received a Paycheck Protection Loan of $3.23M through BMO Harris Bank National Association, 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 August, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Esmark Steel Group LLC's 2019 payroll expenses are estimated to be at least $15.51M.
Based on their reported 198 jobs retained, this equals an estimated average yearly compensation of $78,356 per employee1
Reported PPP Proceed Usage:
On the PPP application, Esmark Steel Group LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $3,232,200
Business Information - Esmark Steel Group LLC in Sewickley, PA
100 Hazel Ln
Sewickley, PA 15143
Business Industry:
Metal Service Centers and Other Metal Merchant Wholesalers
NAICS code 423510
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Businesses Using Same Address:
There are 2 other businesses that received a PPP loan registered to the same address as Esmark Steel Group LLC.
TF Asset Management LLC
Other Management Consulting Services
Johnstown Sports Partners LLC
Sports Teams and Clubs
Similar Companies near Sewickley
In the Sewickley area, 6 businesses in the "Metal Service Centers and Other Metal Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 68 employees (compared to this company's 198) and received an average PPP loan of $974,156 (compared to this company's $3.23M).
Similar Nearby Businesses Who Received PPP Funding:
The A588 & A572 Steel Company
Sewickley, PA
Archer Steel Co
Sewickley, PA
Simple Foundry LLC
Sewickley, PA
CWA Inc
Sewickley, PA
Industry PPP Comparison Statistics
Nationwide, 4,157 businesses in the "Metal Service Centers and Other Metal Merchant Wholesalers" industry received a total of $970.6M 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 19 employees, 90% lower than Esmark Steel Group LLC's reported 198 employees, and received an average PPP loan of $233,486, 93% lower than this company's loan of $3.23M.
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. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
Footnotes & Information
1. Estimations for informational purposes only. 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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