PPP Loan Data — Guttman Energy, Inc, Belle Vernon, PA
Guttman Energy, Inc
Location: Belle Vernon, PATweet This • Search All PPP Data
Guttman Energy, Inc is a corporation located at 200 Speers Street in Belle Vernon, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $2,444,700.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 117 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Citizens Bank, National Association
Guttman Energy, Inc in Belle Vernon, PA received a Paycheck Protection Loan of $2.44M through Citizens Bank, National Association, which was approved in April, 2020.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 117. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
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, Guttman Energy, Inc's 2019 payroll expenses are estimated to be at least $11.73M (not accounting for salary amounts > $100k).
Because the 117 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Reported PPP Proceed Usage:
On the PPP application, Guttman Energy, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,444,700
Business Information - Guttman Energy, Inc in Belle Vernon, PA
200 Speers Street
Belle Vernon, PA 15012
All Other Petroleum and Coal Products Manufacturing
NAICS code 324199
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 224 businesses in the "All Other Petroleum and Coal Products Manufacturing" industry received a total of $50.75M 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 17 employees, 85% lower than Guttman Energy, Inc's reported 117 employees, and received an average PPP loan of $226,555, 91% lower than this company's loan of $2.44M.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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