PPP Loan Data — General Die Casters, Inc, Twinsburg, OH
General Die Casters, Inc is a corporation located at 2150 Highland Rd in Twinsburg, Ohio that received a Coronavirus-related PPP loan from the SBA of $1,922,000.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Fifth Third Bank
General Die Casters, Inc in Twinsburg, OH received a Paycheck Protection Loan of $1.92M through Fifth Third 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 May, 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, General Die Casters, Inc's 2019 payroll expenses are estimated to be at least $9.23M.
Based on their reported 168 jobs retained, this equals an estimated average yearly compensation of $54,914 per employee1
Reported PPP Proceed Usage:
On the PPP application, General Die Casters, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,922,000
Business Information - General Die Casters, Inc in Twinsburg, OH
2150 Highland Rd
Twinsburg, OH 44087
Nonferrous Metal Die-Casting Foundries
NAICS code 331523
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 357 businesses in the "Nonferrous Metal Die-Casting Foundries" industry received a total of $170.43M 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 45 employees, 73% lower than General Die Casters, Inc's reported 168 employees, and received an average PPP loan of $477,386, 75% lower than this company's loan of $1.92M.
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Footnotes & Information
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