PPP Loan Data — Geater Machining & Manufactoring, Co., Independence, IA
Geater Machining & Manufactoring, Co. is a corporation located at 901 12th St Ne in Independence, Iowa that received a Coronavirus-related PPP loan from the SBA of $4,453,300.00 in April, 2020.
$ PPP Loan Information
Lender:NORTHEAST SECURITY BANK
Geater Machining & Manufactoring, Co. received a Paycheck Protection Loan of $4.45M through NORTHEAST SECURITY BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Geater Machining & Manufactoring, Co.'s total 2019 payroll expenses were approximately $21.38M in order to qualify for the PPP loan amount received.
Based on their reported 250 jobs retained, this equals an estimated average yearly compensation of $85,503 per employee1.
Business Information - Geater Machining & Manufactoring, Co. in Independence, IA
901 12th St Ne
Independence, IA 50644
Precision Turned Product Manufacturing (NAICS code 332721)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: IA-01
Industry PPP Comparison Statistics
Nationwide, 903 businesses in the "Precision Turned Product Manufacturing" industry received a total of $306,716,117.00 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 23 employees, 91% lower than Geater Machining & Manufactoring, Co.'s reported 250 employees, and received an average PPP loan of $339,663, 92% lower than this company's loan of $4.45M.
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Footnotes & Information
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