PPP Loan Data — FDS Fabricating And Welding, Viola, IL
FDS Fabricating And Welding is a sole proprietorship located at 921 275th St in Viola, Illinois that received a Coronavirus-related PPP loan from the SBA of $24,841.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:1st Community Bank
FDS Fabricating And Welding in Viola, IL received a Paycheck Protection Loan of $24,841 through 1st Community 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, FDS Fabricating And Welding's 2019 payroll expenses are estimated to be at least $119,237.
Based on their reported 8 jobs retained, this equals an estimated average yearly compensation of $14,905 per employee1
Reported PPP Proceed Usage:
On the PPP application, FDS Fabricating And Welding reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,841
Business Information - FDS Fabricating And Welding in Viola, IL
921 275th St
Viola, IL 61486
Welding and Soldering Equipment Manufacturing
NAICS code 333992
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, 5,794 businesses in the "Welding and Soldering Equipment Manufacturing" industry received a total of $317.26M 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 5 employees, 38% lower than FDS Fabricating And Welding's reported 8 employees, and received an average PPP loan of $54,756, 120% higher than this company's loan of $24,841.
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Footnotes & Information
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