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PPP Loan Data — Industrial Packaging Supplies, Inc., Fountain Inn, SC

SBA PPP loan data, payroll data, and salaries for Industrial Packaging Supplies, Inc.
SC

Industrial Packaging Supplies, Inc.

Entity: Subchapter S Corporation

Industry: Packaging and Labeling Services

Location: Fountain Inn, SC

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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

Loan Size:

$2.73M

Jobs Retained:

172

Loan Approved:

2020-04-14

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.

Because the loan received by Industrial Packaging Supplies, 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 - Industrial Packaging Supplies, Inc. in Fountain Inn, SC

Industrial Packaging Supplies, Inc.
10 Jack Casey Ct
Fountain Inn, SC 29644

Business Industry

Packaging and Labeling Services (NAICS code 561910)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional 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.

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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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/industrial-packaging-supplies-inc-fountain-inn-sc