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PPP Loan Data — Load King Manufacturing Co., Jacksonville, FL

SBA PPP loan data, payroll data, and salaries for Load King Manufacturing Co.
FL

Load King Manufacturing Co.

Entity: Corporation

Industry: Other Industrial Machinery Manufacturing

Location: Jacksonville, FL

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Load King Manufacturing Co. is a corporation located at 1357 Beaver St in Jacksonville, Florida that received a Coronavirus-related PPP loan from the SBA of $2,895,815.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.9M

Jobs Retained:

179

Loan Approved:

2020-04-14

Lender:

FIFTH THIRD BANK

Load King Manufacturing Co. received a Paycheck Protection Loan of $2.9M through FIFTH THIRD BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Load King Manufacturing Co.'s total 2019 payroll expenses were approximately $13.9M in order to qualify for the PPP loan amount received.

Based on their reported 179 jobs retained, this equals an estimated average yearly compensation of $77,653 per employee1.

Because the loan received by Load King Manufacturing Co. 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 - Load King Manufacturing Co. in Jacksonville, FL

Load King Manufacturing Co.
1357 Beaver St
Jacksonville, FL 32209

Business Industry

Other Industrial Machinery Manufacturing (NAICS code 333249)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: FL-05

Similar Companies near Jacksonville

In the Jacksonville area, 2 businesses in the "Other Industrial Machinery Manufacturing" industry received a PPP loan. These local businesses reported an average of 91 employees (compared to this company's 179) and received an average PPP loan of $1,467,345 (compared to this company's $2.9M).

Similar Nearby Businesses Who Received PPP Funding:

Vicenza Inc.
Jacksonville, FL

$38,874 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 2,172 businesses in the "Other Industrial Machinery Manufacturing" industry received a total of $695,492,915.00 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 22 employees, 88% lower than Load King Manufacturing Co.'s reported 179 employees, and received an average PPP loan of $320,209, 89% lower than this company's loan of $2.9M.

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, 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.

Search FederalPay's Full PPP Loan Database

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/load-king-manufacturing-co-jacksonville-fl