PPP Loan Data — Industrial Kiln And Dryer Group, Inc, Louisville, KY
Industrial Kiln And Dryer Group, Inc is a corporation located at 12711 Townepark Way in Louisville, Kentucky that received a Coronavirus-related PPP loan from the SBA of $1,784,158.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 142 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Industrial Kiln And Dryer Group, Inc in Louisville, KY received a Paycheck Protection Loan of $1.78M through Peoples Bank, which was approved in April, 2020.
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, Industrial Kiln And Dryer Group, Inc's 2019 payroll expenses are estimated to be at least $8.56M.
Based on their reported 142 jobs retained, this equals an estimated average yearly compensation of $60,310 per employee1
Reported PPP Proceed Usage:
On the PPP application, Industrial Kiln And Dryer Group, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,338,118
- Utilities: $446,039
Business Information - Industrial Kiln And Dryer Group, Inc in Louisville, KY
12711 Townepark Way
Louisville, KY 40243
Industrial Process Furnace and Oven Manufacturing
NAICS code 333994
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 285 businesses in the "Industrial Process Furnace and Oven Manufacturing" industry received a total of $94.29M 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 24 employees, 83% lower than Industrial Kiln And Dryer Group, Inc's reported 142 employees, and received an average PPP loan of $330,835, 81% lower than this company's loan of $1.78M.
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Footnotes & Information
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