PPP Loan Data — General Tool Company, Inc, Cincinnati, OH
General Tool Company, Inc is a corporation located at 101 Landy Ln in Cincinnati, Ohio that received a Coronavirus-related PPP loan from the SBA of $4,425,300.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 250 people during the applicable loan loan period.
$ PPP Loan Information
Lender:PNC BANK, NATIONAL ASSOCIATION
General Tool Company, Inc in Cincinnati, OH received a Paycheck Protection Loan of $4.43M through PNC BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, General Tool Company, Inc's total 2019 payroll expenses were approximately $21.24M 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 $84,966 per employee1.
Business Information - General Tool Company, Inc in Cincinnati, OH
101 Landy Ln
Cincinnati, OH 45215
Machine Shops (NAICS code 332710)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: MALE OWNED
Veteran Status: UnreportedCongressional District: OH-02
Similar Companies near Cincinnati
In the Cincinnati area, 9 businesses in the "Machine Shops" industry received a PPP loan. These local businesses reported an average of 42 employees (compared to this company's 250) and received an average PPP loan of $658,107 (compared to this company's $4.43M).
Similar Nearby Businesses Who Received PPP Funding:
FXO Industries, LLC
The Metzger Machine Co
Able Tool Corporation
Dimension Machine Company
Pride Tool Co., Inc.
A And V Grinding Inc
Machine Worx Of Cincinnati Inc
Precision Swiss LLC
Industry PPP Comparison Statistics
Nationwide, 9,651 businesses in the "Machine Shops" industry received a total of $1,842,411,346.00 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 14 employees, 94% lower than General Tool Company, Inc's reported 250 employees, and received an average PPP loan of $190,904, 96% lower than this company's loan of $4.43M.
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.
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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