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PPP Loan Data — Giti Tire Manufacturing (USA) LTD, Richburg, SC

SBA PPP loan data, payroll data, and salaries for Giti Tire Manufacturing (USA) LTD
SC

Giti Tire Manufacturing (USA) LTD

Entity: Corporation

Industry: Tire Manufacturing (except Retreading)

Location: Richburg, SC

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Giti Tire Manufacturing (USA) LTD is a corporation located at 1000 Giti Dr in Richburg, South Carolina that received a Coronavirus-related PPP loan from the SBA of $7,944,600.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$7.94M

Jobs Retained:

500

Loan Approved:

2020-04-14

Lender:

EAST WEST BANK

Giti Tire Manufacturing (USA) LTD received a Paycheck Protection Loan of $7.94M through EAST WEST BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Giti Tire Manufacturing (USA) LTD's total 2019 payroll expenses were approximately $38.13M in order to qualify for the PPP loan amount received.

Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $76,268 per employee1.

Because the loan received by Giti Tire Manufacturing (USA) LTD 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 - Giti Tire Manufacturing (USA) LTD in Richburg, SC

Giti Tire Manufacturing (USA) LTD
1000 Giti Dr
Richburg, SC 29729

Business Industry

Tire Manufacturing (except Retreading) (NAICS code 326211)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: SC-05

Industry PPP Comparison Statistics

Nationwide, 125 businesses in the "Tire Manufacturing (except Retreading)" industry received a total of $29,565,094.00 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 21 employees, 96% lower than Giti Tire Manufacturing (USA) LTD's reported 500 employees, and received an average PPP loan of $236,521, 97% lower than this company's loan of $7.94M.

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/giti-tire-manufacturing-usa-ltd-richburg-sc