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

PPP Loan Data — Lakeview Forge Acquisition LLC, Cranberry Township, PA

ALERT: There are 2 PPP loans for a total of $2.87M in our database for businesses with the name "Lakeview Forge Acquisition LLC" in Cranberry Township, PA. 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 Lakeview Forge Acquisition LLC
PA

Lakeview Forge Acquisition LLC

Entity: Limited Liability Company (LLC)

Industry: Machine Shops

Location: Cranberry Township, PA

Search All PPP Data

Lakeview Forge Acquisition LLC is a limited liability company (LLC) located at 20399 Route 19 Ste 110 in Cranberry Township, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $1,537,953.00 in January, 2021.

$ PPP Loan Information
Loan #6632858309

Loan Size:

$1.54M

Jobs Retained:

105

Loan Approved:

2021-01-27

Loan Status:

Ongoing Loan

Lender:

1st Summit Bank

Lakeview Forge Acquisition LLC in Cranberry Township, PA received a Paycheck Protection Loan of $1.54M through 1st Summit Bank, which was approved in January, 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, Lakeview Forge Acquisition LLC's 2019 payroll expenses are estimated to be at least $7.38M.

Based on their reported 105 jobs retained, this equals an estimated average yearly compensation of $70,306 per employee1

Reported PPP Proceed Usage:

On the PPP application, Lakeview Forge Acquisition LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,537,949
  • Utilities: $1

Business Information - Lakeview Forge Acquisition LLC in Cranberry Township, PA

Lakeview Forge Acquisition LLC
20399 Route 19 Ste 110
Cranberry Township, PA 16066

Business Industry:
Machine Shops
NAICS code 332710

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Rural

Butler County, PA — SBA Office 0358 — Congressional District: PA-17

Similar Companies near Cranberry Township

In the Cranberry Township area, 2 businesses in the "Machine Shops" industry received a PPP loan. These local businesses reported an average of 61 employees (compared to this company's 105) and received an average PPP loan of $864,543 (compared to this company's $1.54M).

Similar Nearby Businesses Who Received PPP Funding:

Ashby Manufacturing Co Inc
Cranberry Township, PA

$191,132 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 16,572 businesses in the "Machine Shops" industry received a total of $2.92B 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, 86% lower than Lakeview Forge Acquisition LLC's reported 105 employees, and received an average PPP loan of $176,279, 89% lower than this company's loan of $1.54M.

SBA PPP loan data, payroll data, and salaries for Lakeview Forge Acquisition LLC
PA

Lakeview Forge Acquisition LLC

Entity: Limited Liability Company (LLC)

Industry: Iron and Steel Forging

Location: Cranberry Township, PA

Search All PPP Data

Lakeview Forge Acquisition LLC is a limited liability company (LLC) located at 20399 Route 19 Suite 110 in Cranberry Township, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $1,333,640.00 in April, 2020.

$ PPP Loan Information
Loan #7750217010

Loan Size:

$1.33M

Jobs Retained:

94

Loan Approved:

2020-04-08

Loan Status:

Ongoing Loan

Lender:

S & T Bank

Lakeview Forge Acquisition LLC in Cranberry Township, PA received a Paycheck Protection Loan of $1.33M through S & T 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, Lakeview Forge Acquisition LLC's 2019 payroll expenses are estimated to be at least $6.4M.

Based on their reported 94 jobs retained, this equals an estimated average yearly compensation of $68,101 per employee1

Reported PPP Proceed Usage:

On the PPP application, Lakeview Forge Acquisition LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,333,640

Business Information - Lakeview Forge Acquisition LLC in Cranberry Township, PA

Lakeview Forge Acquisition LLC
20399 Route 19 Suite 110
Cranberry Township, PA 16066

Business Industry:
Iron and Steel Forging
NAICS code 332111

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Rural

Butler County, PA — SBA Office 0358 — Congressional District: PA-17

Industry PPP Comparison Statistics

Nationwide, 981 businesses in the "Iron and Steel Forging" industry received a total of $263M 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 22 employees, 77% lower than Lakeview Forge Acquisition LLC's reported 94 employees, and received an average PPP loan of $268,091, 80% lower than this company's loan of $1.33M.

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.


Have FederalPay.org's open data tools been valuable? Consider donating!

** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/lakeview-forge-acquisition-llc-cranberry-township-pa