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PPP Loan Data — Essex Industries, Inc., Saint Louis, MO

SBA PPP loan data, payroll data, and salaries for Essex Industries, Inc.
MO

Essex Industries, Inc.

Entity: Subchapter S Corporation

Industry: Other Industrial Machinery Manufacturing

Location: Saint Louis, MO

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Essex Industries, Inc. is a subchapter s corporation located at 7700 Gravois Road in Saint Louis, Missouri that received a Coronavirus-related PPP loan from the SBA of $6,217,300.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$6.22M

Jobs Retained:

397

Loan Approved:

2020-04-07

Lender:

CIBC BANK USA

Essex Industries, Inc. in Saint Louis, MO received a Paycheck Protection Loan of $6.22M through CIBC BANK USA, which was approved in April, 2020.

Based on standard PPP eligibility rules, Essex Industries, Inc.'s total 2019 payroll expenses were approximately $29.84M in order to qualify for the PPP loan amount received.

Based on their reported 397 jobs retained, this equals an estimated average yearly compensation of $75,171 per employee1.

Because the loan received by Essex Industries, Inc. is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Essex Industries, Inc. in Saint Louis, MO

Essex Industries, Inc.
7700 Gravois Road
Saint Louis, MO 63123

Business Industry

Other Industrial Machinery Manufacturing (NAICS code 333249)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MO-02

Industry PPP Comparison Statistics

Nationwide, 2,172 businesses in the "Other Industrial Machinery Manufacturing" industry received a total of $695,492,915.00 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 22 employees, 94% lower than Essex Industries, Inc.'s reported 397 employees, and received an average PPP loan of $320,209, 95% lower than this company's loan of $6.22M.

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.

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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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/essex-industries-inc-saint-louis-mo