Idaho Steel Products, Inc. in Idaho Falls, ID - SBA PPP Loan Data (Paycheck Protection Program)

PPP Loan Data — Idaho Steel Products, Inc., Idaho Falls, ID

Idaho Steel Products, Inc.

Entity: Subchapter S Corporation

Industry: Food Product Machinery Manufacturing

Location: Idaho Falls, ID

Idaho Steel Products, Inc. is a subchapter s corporation located at 255 E. Anderson Street in Idaho Falls, Idaho that received a Coronavirus-related PPP loan from the SBA of $2,639,100.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.64M

Jobs Retained:

180

Loan Approved:

2020-04-13

Lender:

ZIONS BANK, A DIVISION OF

Idaho Steel Products, Inc. in Idaho Falls, ID received a Paycheck Protection Loan of $2.64M through ZIONS BANK, A DIVISION OF, which was approved in April, 2020.

Based on standard PPP eligibility rules, Idaho Steel Products, Inc.'s total 2019 payroll expenses were approximately $12.67M in order to qualify for the PPP loan amount received.

Based on their reported 180 jobs retained, this equals an estimated average yearly compensation of $70,376 per employee¹.

Because the loan received by Idaho Steel Products, 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 - Idaho Steel Products, Inc. in Idaho Falls, ID

Idaho Steel Products, Inc.
255 E. Anderson Street
Idaho Falls, ID 83401

Business Industry

Food Product Machinery Manufacturing (NAICS code 333241)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: ID-02

Industry PPP Comparison Statistics

Nationwide, 710 businesses in the "Food Product Machinery Manufacturing" industry received a total of $202,544,701.00 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, 88% lower than Idaho Steel Products, Inc.'s reported 180 employees, and received an average PPP loan of $285,274, 89% lower than this company's loan of $2.64M.

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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