PPP Loan Data — Indiana U Bolts, Inc, Waterloo, IN
Indiana U Bolts, Inc is a subchapter s corporation located at 300 E Railroad St in Waterloo, Indiana that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Lake City Bank
Indiana U Bolts, Inc in Waterloo, IN received a Paycheck Protection Loan of $25,000 through Lake City Bank, 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 January, 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, Indiana U Bolts, Inc's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Indiana U Bolts, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $21,000
- Utilities: $1,000
- Health Care: $3,000
Business Information - Indiana U Bolts, Inc in Waterloo, IN
300 E Railroad St
Waterloo, IN 46793
Bolt, Nut, Screw, Rivet, and Washer Manufacturing
NAICS code 332722
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 762 businesses in the "Bolt, Nut, Screw, Rivet, and Washer Manufacturing" industry received a total of $280.02M 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 31 employees, 675% higher than Indiana U Bolts, Inc's reported 4 employees, and received an average PPP loan of $367,481, 1370% higher than this company's loan of $25,000.
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Footnotes & Information
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