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PPP Loan Data — Libra Industries, LLC, Mentor, OH

SBA PPP loan data, payroll data, and salaries for Libra Industries, LLC
OH

Libra Industries, LLC

Entity: Limited Liability Company (LLC)

Industry: Printed Circuit Assembly (Electronic Assembly) Manufacturing

Location: Mentor, OH

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Libra Industries, LLC is a limited liability company (LLC) located at 7770 Division Drive in Mentor, Ohio that received a Coronavirus-related PPP loan from the SBA of $4,222,100.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$4.22M

Jobs Retained:

341

Loan Approved:

2020-04-08

Lender:

CIBC BANK USA

Libra Industries, LLC in Mentor, OH received a Paycheck Protection Loan of $4.22M through CIBC BANK USA, which was approved in April, 2020.

Based on standard PPP eligibility rules, Libra Industries, LLC's total 2019 payroll expenses were approximately $20.27M in order to qualify for the PPP loan amount received.

Based on their reported 341 jobs retained, this equals an estimated average yearly compensation of $59,431 per employee1.

Because the loan received by Libra Industries, 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 - Libra Industries, LLC in Mentor, OH

Libra Industries, LLC
7770 Division Drive
Mentor, OH 44060

Business Industry

Printed Circuit Assembly (Electronic Assembly) Manufacturing (NAICS code 334418)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: OH-14

Industry PPP Comparison Statistics

Nationwide, 480 businesses in the "Printed Circuit Assembly (Electronic Assembly) Manufacturing" industry received a total of $202,524,322.00 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 33 employees, 90% lower than Libra Industries, LLC's reported 341 employees, and received an average PPP loan of $421,926, 90% lower than this company's loan of $4.22M.

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.

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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 www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/libra-industries-llc-mentor-oh