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PPP Loan Data — FPC International, Inc., Cleveland, OH

SBA PPP loan data, payroll data, and salaries for FPC International, Inc.
OH

FPC International, Inc.

Entity: Subchapter S Corporation

Industry: Other Chemical and Allied Products Merchant Wholesalers

Location: Cleveland, OH

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FPC International, Inc. is a subchapter s corporation located at 4520 Richmond Road in Cleveland, Ohio that received a Coronavirus-related PPP loan from the SBA of $2,546,347.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.55M

Jobs Retained:

185

Loan Approved:

2020-04-10

Lender:

JPMORGAN CHASE BANK, NATIONAL ASSOCIATION

FPC International, Inc. received a Paycheck Protection Loan of $2.55M through JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, FPC International, Inc.'s total 2019 payroll expenses were approximately $12.22M in order to qualify for the PPP loan amount received.

Based on their reported 185 jobs retained, this equals an estimated average yearly compensation of $66,067 per employee1.

Because the loan received by FPC International, 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 - FPC International, Inc. in Cleveland, OH

FPC International, Inc.
4520 Richmond Road
Cleveland, OH 44128

Business Industry

Other Chemical and Allied Products Merchant Wholesalers (NAICS code 424690)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: OH-11

Industry PPP Comparison Statistics

Nationwide, 2,140 businesses in the "Other Chemical and Allied Products Merchant Wholesalers" industry received a total of $406,941,257.00 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 12 employees, 94% lower than FPC International, Inc.'s reported 185 employees, and received an average PPP loan of $190,159, 93% lower than this company's loan of $2.55M.

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, 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.

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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/fpc-international-inc-cleveland-oh