PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Kriegel Holding Company Inc, Van Wert, OH

ALERT: There are 2 PPP loans for a total of $5.16M in our database for businesses with the name "Kriegel Holding Company Inc" in Van Wert, OH. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Kriegel Holding Company Inc
OH

Kriegel Holding Company Inc

Entity: Corporation

Industry: Corporate, Subsidiary, and Regional Managing Offices

Location: Van Wert, OH

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Kriegel Holding Company Inc is a corporation located at 7600 State Rt 127 N in Van Wert, Ohio that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in February, 2021.

The company has reported itself as a male owned business, and employed at least 300 people during the applicable loan loan period.

$ PPP Loan Information
Loan #3084108410

Loan Size:

$2M

Jobs Retained:

300

Loan Approved:

2021-02-04

Loan Status:

Ongoing Loan

Lender:

Premier Bank

Kriegel Holding Company Inc in Van Wert, OH received a Paycheck Protection Loan of $2M through Premier Bank, which was approved in February, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Kriegel Holding Company Inc's 2019 payroll expenses are estimated to be at least $9.6M.

Based on their reported 300 jobs retained, this equals an estimated average yearly compensation of $32,000 per employee1

Reported PPP Proceed Usage:

On the PPP application, Kriegel Holding Company Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,999,998
  • Utilities: $1
Because the loan received by Kriegel Holding Company 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 - Kriegel Holding Company Inc in Van Wert, OH

Kriegel Holding Company Inc
7600 State Rt 127 N
Van Wert, OH 45891

Business Industry:
Corporate, Subsidiary, and Regional Managing Offices
NAICS code 551114

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Rural

Van Wert County, OH — SBA Office 0593 — Congressional District: OH-05

Industry PPP Comparison Statistics

Nationwide, 2,596 businesses in the "Corporate, Subsidiary, and Regional Managing Offices" industry received a total of $389.46M 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 15 employees, 95% lower than Kriegel Holding Company Inc's reported 300 employees, and received an average PPP loan of $150,022, 92% lower than this company's loan of $2M.

SBA PPP loan data, payroll data, and salaries for Kriegel Holding Company, Inc
OH

Kriegel Holding Company, Inc

Entity: Corporation

Industry: Metal Service Centers and Other Metal Merchant Wholesalers

Location: Van Wert, OH

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Kriegel Holding Company, Inc is a corporation located at 7600 Us Route 127 N in Van Wert, Ohio that received a Coronavirus-related PPP loan from the SBA of $3,164,200.00 in April, 2020.

The company has reported itself as a male owned business, and employed at least 345 people during the applicable loan loan period.

$ PPP Loan Information
Loan #9507607106

Loan Size:

$3.16M

Jobs Retained:

345

Loan Approved:

2020-04-15

Loan Status:

Ongoing Loan

Lender:

Premier Bank

Kriegel Holding Company, Inc in Van Wert, OH received a Paycheck Protection Loan of $3.16M through Premier Bank, which was approved in April, 2020.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Kriegel Holding Company, Inc's 2019 payroll expenses are estimated to be at least $15.19M.

Based on their reported 345 jobs retained, this equals an estimated average yearly compensation of $44,024 per employee1

Reported PPP Proceed Usage:

On the PPP application, Kriegel Holding Company, Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $3,164,200
Because the loan received by Kriegel Holding Company, 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 - Kriegel Holding Company, Inc in Van Wert, OH

Kriegel Holding Company, Inc
7600 Us Route 127 N
Van Wert, OH 45891

Business Industry:
Metal Service Centers and Other Metal Merchant Wholesalers
NAICS code 423510

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Rural

Van Wert County, OH — SBA Office 0593 — Congressional District: OH-05

Industry PPP Comparison Statistics

Nationwide, 3,949 businesses in the "Metal Service Centers and Other Metal Merchant Wholesalers" industry received a total of $948.32M 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 19 employees, 94% lower than Kriegel Holding Company, Inc's reported 345 employees, and received an average PPP loan of $240,142, 92% lower than this company's loan of $3.16M.

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. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. 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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Source: www.federalpay.org/paycheck-protection-program/kriegel-holding-company-inc-van-wert-oh