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PPP Loan Data — Hannibal Industries Inc., Vernon, CA

SBA PPP loan data, payroll data, and salaries for Hannibal Industries Inc.
CA

Hannibal Industries Inc.

Entity: Employee Stock Ownership Plan (esop)

Industry: Iron and Steel Pipe and Tube Manufacturing from Purchased Steel

Location: Vernon, CA

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Hannibal Industries Inc. is an employee stock ownership plan (esop) located at 3851 S. Santa Fe Ave in Vernon, California that received a Coronavirus-related PPP loan from the SBA of $4,278,719.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$4.28M

Jobs Retained:

303

Loan Approved:

2020-04-08

Lender:

CITY NATIONAL BANK

Hannibal Industries Inc. in Vernon, CA received a Paycheck Protection Loan of $4.28M through CITY NATIONAL BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Hannibal Industries Inc.'s total 2019 payroll expenses were approximately $20.54M in order to qualify for the PPP loan amount received.

Based on their reported 303 jobs retained, this equals an estimated average yearly compensation of $67,782 per employee1.

Because the loan received by Hannibal Industries Inc. 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 - Hannibal Industries Inc. in Vernon, CA

Hannibal Industries Inc.
3851 S. Santa Fe Ave
Vernon, CA 90058

Business Industry

Iron and Steel Pipe and Tube Manufacturing from Purchased Steel (NAICS code 331210)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: CA-40

Similar Companies near Vernon

In the Vernon area, 2 businesses in the "Iron and Steel Pipe and Tube Manufacturing from Purchased Steel" industry received a PPP loan. These local businesses reported an average of 170 employees (compared to this company's 303) and received an average PPP loan of $2,209,360 (compared to this company's $4.28M).

Similar Nearby Businesses Who Received PPP Funding:

Charman Manufacturing, Inc.
Vernon, CA

$140,000 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 804 businesses in the "Iron and Steel Pipe and Tube Manufacturing from Purchased Steel" industry received a total of $294,504,645.00 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, 91% lower than Hannibal Industries Inc.'s reported 303 employees, and received an average PPP loan of $366,299, 91% lower than this company's loan of $4.28M.

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.

Search FederalPay's Full PPP Loan Database

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/hannibal-industries-inc-vernon-ca