PPP Loan Data — Grote Industries, LLC, Madison, IN
Grote Industries, LLC
Entity: Limited Liability Company (LLC)
Location: Madison, INTweet This • Search All PPP Data
Grote Industries, LLC is a limited liability company (LLC) located at 2600 Lanier Drive in Madison, Indiana that received a Coronavirus-related PPP loan from the SBA of $7,663,690.00 in April, 2020.
$ PPP Loan Information
Lender:JPMORGAN CHASE BANK, NATIONAL ASSOCIATION
Grote Industries, LLC in Madison, IN received a Paycheck Protection Loan of $7.66M through JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Grote Industries, LLC's total 2019 payroll expenses were approximately $36.79M in order to qualify for the PPP loan amount received.
Based on their reported 426 jobs retained, this equals an estimated average yearly compensation of $86,351 per employee1.
Business Information - Grote Industries, LLC in Madison, IN
2600 Lanier Drive
Madison, IN 47250
Motor Vehicle Electrical and Electronic Equipment Manufacturing (NAICS code 336320)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: IN-06
Industry PPP Comparison Statistics
Nationwide, 276 businesses in the "Motor Vehicle Electrical and Electronic Equipment Manufacturing" industry received a total of $96,271,285.00 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 27 employees, 94% lower than Grote Industries, LLC's reported 426 employees, and received an average PPP loan of $348,809, 95% lower than this company's loan of $7.66M.
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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