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PPP Loan Data — Klingspor Abrasives Inc., Hickory, NC

SBA PPP loan data, payroll data, and salaries for Klingspor Abrasives Inc.

Klingspor Abrasives Inc.

Entity: Corporation

Industry: Abrasive Product Manufacturing

Location: Hickory, NC

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Klingspor Abrasives Inc. is a corporation located at 2555 Tate Boulevard in Hickory, North Carolina that received a Coronavirus-related PPP loan from the SBA of $3,500,000.00 in April, 2020.

$ PPP Loan Information

Loan Size:


Jobs Retained:


Loan Approved:




Klingspor Abrasives Inc. in Hickory, NC received a Paycheck Protection Loan of $3.5M through NORTHEAST BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Klingspor Abrasives Inc.'s total 2019 payroll expenses were approximately $16.8M in order to qualify for the PPP loan amount received.

Based on their reported 391 jobs retained, this equals an estimated average yearly compensation of $42,967 per employee1.

Because the loan received by Klingspor Abrasives 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 - Klingspor Abrasives Inc. in Hickory, NC

Klingspor Abrasives Inc.
2555 Tate Boulevard
Hickory, NC 28602

Business Industry

Abrasive Product Manufacturing (NAICS code 327910)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: NC-10

Industry PPP Comparison Statistics

Nationwide, 225 businesses in the "Abrasive Product Manufacturing" industry received a total of $71,345,382.00 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 23 employees, 94% lower than Klingspor Abrasives Inc.'s reported 391 employees, and received an average PPP loan of $317,091, 91% lower than this company's loan of $3.5M.

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 - The Civil Employee's Resource **