PPP Loan Data — L&M Fabrication & Machine, Inc, Bath, PA
L&M Fabrication & Machine, Inc is a corporation located at 6814 Chrisphalt Drive in Bath, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $1,524,100.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:First Northern Bank and Trust Company
L&M Fabrication & Machine, Inc in Bath, PA received a Paycheck Protection Loan of $1.52M through First Northern Bank and Trust Company, which was approved in April, 2020.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
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, L&M Fabrication & Machine, Inc's 2019 payroll expenses are estimated to be at least $7.32M.
Based on their reported 83 jobs retained, this equals an estimated average yearly compensation of $88,141 per employee1
Reported PPP Proceed Usage:
On the PPP application, L&M Fabrication & Machine, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,524,100
Business Information - L&M Fabrication & Machine, Inc in Bath, PA
6814 Chrisphalt Drive
Bath, PA 18014
Fabricated Structural Metal Manufacturing
NAICS code 332312
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Bath
In the Bath area, 7 businesses in the "Fabricated Structural Metal Manufacturing" industry received a PPP loan. These local businesses reported an average of 18 employees (compared to this company's 83) and received an average PPP loan of $327,622 (compared to this company's $1.52M).
Similar Nearby Businesses Who Received PPP Funding:
Bangor Steel Corp
Penlin Fabricators LLC
Form Design, LLC
Flexible Compensators, Inc
Industry PPP Comparison Statistics
Nationwide, 5,157 businesses in the "Fabricated Structural Metal Manufacturing" industry received a total of $1.41B 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 24 employees, 71% lower than L&M Fabrication & Machine, Inc's reported 83 employees, and received an average PPP loan of $273,385, 82% lower than this company's loan of $1.52M.
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Footnotes & Information
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