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PPP Loan Data — Fort Recovery Industries Inc, Fort Recovery, OH

SBA PPP loan data, payroll data, and salaries for Fort Recovery Industries Inc
OH

Fort Recovery Industries Inc

Entity: Corporation

Industry: Nonferrous Metal Die-Casting Foundries

Location: Fort Recovery, OH

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Fort Recovery Industries Inc is a corporation located at 2440 State Route 49 in Fort Recovery, Ohio that received a Coronavirus-related PPP loan from the SBA of $3,546,316.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.55M

Jobs Retained:

330

Loan Approved:

2020-04-09

Lender:

JPMORGAN CHASE BANK, NATIONAL ASSOCIATION

Fort Recovery Industries Inc in Fort Recovery, OH received a Paycheck Protection Loan of $3.55M through JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Fort Recovery Industries Inc's total 2019 payroll expenses were approximately $17.02M in order to qualify for the PPP loan amount received.

Based on their reported 330 jobs retained, this equals an estimated average yearly compensation of $51,583 per employee1.

Because the loan received by Fort Recovery 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 - Fort Recovery Industries Inc in Fort Recovery, OH

Fort Recovery Industries Inc
2440 State Route 49
Fort Recovery, OH 45846

Business Industry

Nonferrous Metal Die-Casting Foundries (NAICS code 331523)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: OH-08

Industry PPP Comparison Statistics

Nationwide, 236 businesses in the "Nonferrous Metal Die-Casting Foundries" industry received a total of $134,971,600.00 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 46 employees, 86% lower than Fort Recovery Industries Inc's reported 330 employees, and received an average PPP loan of $571,914, 84% lower than this company's loan of $3.55M.

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/fort-recovery-industries-inc-fort-recovery-oh