PPP Loan Data — JET Industries, Inc, Salem, OR
JET Industries, Inc
Entity: Subchapter S Corporation
Location: Salem, ORTweet This • Search All PPP Data
JET Industries, Inc is a subchapter s corporation located at 1935 Silverton Rd Ne in Salem, Oregon that received a Coronavirus-related PPP loan from the SBA of $3,686,400.00 in April, 2020.
$ PPP Loan Information
Lender:KEYBANK NATIONAL ASSOCIATION
JET Industries, Inc received a Paycheck Protection Loan of $3.69M through KEYBANK NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, JET Industries, Inc's total 2019 payroll expenses were approximately $17.69M in order to qualify for the PPP loan amount received.
Based on their reported 328 jobs retained, this equals an estimated average yearly compensation of $53,947 per employee1.
Business Information - JET Industries, Inc in Salem, OR
1935 Silverton Rd Ne
Salem, OR 97301
Plumbing, Heating, and Air-Conditioning Contractors (NAICS code 238220)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: OR-05
Similar Companies near Salem
In the Salem area, 16 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a PPP loan. These local businesses reported an average of 32 employees (compared to this company's 328) and received an average PPP loan of $515,707 (compared to this company's $3.69M).
Similar Nearby Businesses Who Received PPP Funding:
Gagle Enterprises, Inc.
A Team Heating & Cooling LLC
West Coast Mechanical Group LLC
Salem Air Cleaner, Inc
Evergreen Plumbing And Mechanical LLC
Nicholas King LLC
Vicon Mechanical Contractor, Inc.
Industry PPP Comparison Statistics
Nationwide, 60,482 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a total of $9,373,583,135.00 in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 11 employees, 97% lower than JET Industries, Inc's reported 328 employees, and received an average PPP loan of $154,981, 96% lower than this company's loan of $3.69M.
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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) 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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