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PPP Loan Data — Koetter Woodworking, Inc., Borden, IN

SBA PPP loan data, payroll data, and salaries for Koetter Woodworking, Inc.
IN

Koetter Woodworking, Inc.

Entity: Subchapter S Corporation

Industry: Sawmill, Woodworking, and Paper Machinery Manufacturing

Location: Borden, IN

Search All PPP Data

Koetter Woodworking, Inc. is a subchapter s corporation located at 533 Louis Smith Rd in Borden, Indiana that received a Coronavirus-related PPP loan from the SBA of $3,438,234.00 in April, 2020.

The company has reported itself as a male owned business, and employed at least 310 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$3.44M

Jobs Retained:

310

Loan Approved:

2020-04-06

Lender:

WESBANCO BANK, INC.

Koetter Woodworking, Inc. in Borden, IN received a Paycheck Protection Loan of $3.44M through WESBANCO BANK, INC., which was approved in April, 2020.

Based on standard PPP eligibility rules, Koetter Woodworking, Inc.'s total 2019 payroll expenses were approximately $16.5M in order to qualify for the PPP loan amount received.

Based on their reported 310 jobs retained, this equals an estimated average yearly compensation of $53,237 per employee1.

Because the loan received by Koetter Woodworking, 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 - Koetter Woodworking, Inc. in Borden, IN

Koetter Woodworking, Inc.
533 Louis Smith Rd
Borden, IN 47106

Business Industry

Sawmill, Woodworking, and Paper Machinery Manufacturing (NAICS code 333243)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: MALE OWNED

Veteran Status: Unreported

Congressional District: IN-09

Similar Companies near Borden

In the Borden area, 2 businesses in the "Sawmill, Woodworking, and Paper Machinery Manufacturing" industry received a PPP loan. These local businesses reported an average of 158 employees (compared to this company's 310) and received an average PPP loan of $1,767,073 (compared to this company's $3.44M).

Similar Nearby Businesses Who Received PPP Funding:

Northtech Machine,LLC
Borden, IN

$95,912 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 540 businesses in the "Sawmill, Woodworking, and Paper Machinery Manufacturing" industry received a total of $71,974,109.00 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 11 employees, 96% lower than Koetter Woodworking, Inc.'s reported 310 employees, and received an average PPP loan of $133,285, 96% lower than this company's loan of $3.44M.

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.

Search FederalPay's Full PPP Loan Database

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/koetter-woodworking-inc-borden-in