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PPP Loan Data — LGS Industries, Inc.,
Middlebury, IN
LGS Industries, Inc.
Entity: Subchapter S Corporation
Industry: Truck Trailer Manufacturing
Location: Middlebury, IN
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LGS Industries, Inc. is a subchapter s corporation located at 11550 Harter Dr. in Middlebury, Indiana that received a Coronavirus-related PPP loan from the SBA of $3,900,000.00 in April, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
500Loan Approved:
2020-04-10Lender:
JPMORGAN CHASE BANK, NATIONAL ASSOCIATIONLGS Industries, Inc. in Middlebury, IN received a Paycheck Protection Loan of $3.9M through JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, LGS Industries, Inc.'s total 2019 payroll expenses were approximately $18.72M in order to qualify for the PPP loan amount received.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $37,440 per employee1.
Business Information - LGS Industries, Inc. in Middlebury, IN
11550 Harter Dr.
Middlebury, IN 46540
Business Industry
Truck Trailer Manufacturing (NAICS code 336212)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: IN-02Industry PPP Comparison Statistics
Nationwide, 652 businesses in the "Truck Trailer Manufacturing" industry received a total of $211,699,391.00 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 27 employees, 95% lower than LGS Industries, Inc.'s reported 500 employees, and received an average PPP loan of $324,692, 92% lower than this company's loan of $3.9M.
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.
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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