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PPP Loan Data — LB Metals LLC, Harvey, IL

SBA PPP loan data, payroll data, and salaries for LB Metals LLC

LB Metals LLC

Entity: Limited Liability Company (LLC)

Industry: Iron and Steel Mills and Ferroalloy Manufacturing

Location: Harvey, IL

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LB Metals LLC is a limited liability company (LLC) located at 15700 Lathrop Ave in Harvey, Illinois that received a Coronavirus-related PPP loan from the SBA of $2,612,659.00 in April, 2020.

The company has reported itself as a White male owned business, and employed at least 215 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:


Jobs Retained:


Loan Approved:




LB Metals LLC received a Paycheck Protection Loan of $2.61M through HINSDALE BANK & TRUST COMPANY, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, LB Metals LLC's total 2019 payroll expenses were approximately $12.54M in order to qualify for the PPP loan amount received.

Based on their reported 215 jobs retained, this equals an estimated average yearly compensation of $58,329 per employee1.

Because the loan received by LB Metals LLC 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 - LB Metals LLC in Harvey, IL

LB Metals LLC
15700 Lathrop Ave
Harvey, IL 60426

Business Industry

Iron and Steel Mills and Ferroalloy Manufacturing (NAICS code 331110)

Business Owner Demographics

Race / Ethnicity: WHITE


Veteran Status: NON-VETERAN

Congressional District: IL-02

Similar Companies near Harvey

In the Harvey area, 2 businesses in the "Iron and Steel Mills and Ferroalloy Manufacturing" industry received a PPP loan. These local businesses reported an average of 118 employees (compared to this company's 215) and received an average PPP loan of $1,408,434 (compared to this company's $2.61M).

Similar Nearby Businesses Who Received PPP Funding:

Vitco Steel Supply Corporation
Dixmoor, IL

$204,208 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 712 businesses in the "Iron and Steel Mills and Ferroalloy Manufacturing" industry received a total of $239,381,219.00 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, 89% lower than LB Metals LLC's reported 215 employees, and received an average PPP loan of $336,210, 87% lower than this company's loan of $2.61M.

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.

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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 **