PPP Loan Data — Industrial Packaging Supplies, Inc., Fountain Inn, SC
Industrial Packaging Supplies, Inc. is a subchapter s corporation located at 10 Jack Casey Ct in Fountain Inn, South Carolina that received a Coronavirus-related PPP loan from the SBA of $2,732,000.00 in April, 2020.
$ PPP Loan Information
Lender:TRUIST BANK D/B/A BRANCH BANKING & TRUST CO
Industrial Packaging Supplies, Inc. in Fountain Inn, SC received a Paycheck Protection Loan of $2.73M through TRUIST BANK D/B/A BRANCH BANKING & TRUST CO, which was approved in April, 2020.
Based on standard PPP eligibility rules, Industrial Packaging Supplies, Inc.'s total 2019 payroll expenses were approximately $13.11M in order to qualify for the PPP loan amount received.
Based on their reported 172 jobs retained, this equals an estimated average yearly compensation of $76,242 per employee1.
Business Information - Industrial Packaging Supplies, Inc. in Fountain Inn, SC
10 Jack Casey Ct
Fountain Inn, SC 29644
Packaging and Labeling Services (NAICS code 561910)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: SC-03
Industry PPP Comparison Statistics
Nationwide, 1,495 businesses in the "Packaging and Labeling Services" industry received a total of $305,001,450.00 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 19 employees, 89% lower than Industrial Packaging Supplies, Inc.'s reported 172 employees, and received an average PPP loan of $204,014, 93% lower than this company's loan of $2.73M.
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.
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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