PPP Loan Data — Hy-Ko Products Company, Northfield, OH
Hy-Ko Products Company is a subchapter s corporation located at 60 Meadow Lane in Northfield, Ohio that received a Coronavirus-related PPP loan from the SBA of $1,800,000.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:KeyBank National Association
Hy-Ko Products Company in Northfield, OH received a Paycheck Protection Loan of $1.8M through KeyBank National Association, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in June, 2021.
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, Hy-Ko Products Company's 2019 payroll expenses are estimated to be at least $8.64M.
Based on their reported 143 jobs retained, this equals an estimated average yearly compensation of $60,420 per employee1
Reported PPP Proceed Usage:
On the PPP application, Hy-Ko Products Company reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,800,000
Business Information - Hy-Ko Products Company in Northfield, OH
60 Meadow Lane
Northfield, OH 44067
NAICS code 339950
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Northfield
In the Northfield area, 2 businesses in the "Sign Manufacturing" industry received a PPP loan. These local businesses reported an average of 73 employees (compared to this company's 143) and received an average PPP loan of $902,500 (compared to this company's $1.8M).
Similar Nearby Businesses Who Received PPP Funding:
Unique Led Products LLC
Industry PPP Comparison Statistics
Nationwide, 9,571 businesses in the "Sign Manufacturing" industry received a total of $1.05B 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 11 employees, 92% lower than Hy-Ko Products Company's reported 143 employees, and received an average PPP loan of $109,484, 94% lower than this company's loan of $1.8M.
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Footnotes & Information
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