PPP Loan Data — Invotec, Inc, Miamisburg, OH
Invotec, Inc is a corporation located at 10909 Industry Ln in Miamisburg, Ohio that received a Coronavirus-related PPP loan from the SBA of $1,528,500.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 94 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:First Financial Bank
Invotec, Inc in Miamisburg, OH received a Paycheck Protection Loan of $1.53M through First Financial 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 July, 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, Invotec, Inc's 2019 payroll expenses are estimated to be at least $7.34M.
Based on their reported 94 jobs retained, this equals an estimated average yearly compensation of $78,051 per employee1
Reported PPP Proceed Usage:
On the PPP application, Invotec, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,528,500
Business Information - Invotec, Inc in Miamisburg, OH
10909 Industry Ln
Miamisburg, OH 45342
All Other Miscellaneous Manufacturing
NAICS code 339999
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Miamisburg
In the Miamisburg area, 2 businesses in the "All Other Miscellaneous Manufacturing" industry received a PPP loan. These local businesses reported an average of 48 employees (compared to this company's 94) and received an average PPP loan of $771,948 (compared to this company's $1.53M).
Similar Nearby Businesses Who Received PPP Funding:
Divnick International, Inc
Industry PPP Comparison Statistics
Nationwide, 17,359 businesses in the "All Other Miscellaneous Manufacturing" industry received a total of $2.06B 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 12 employees, 87% lower than Invotec, Inc's reported 94 employees, and received an average PPP loan of $118,586, 92% lower than this company's loan of $1.53M.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!