PPP Loan Data — Maysteel Porters LLC, Allenton, WI
Maysteel Porters LLC is a limited liability company (LLC) located at 6199 County Rd W in Allenton, Wisconsin that received a Coronavirus-related PPP loan from the SBA of $3,957,600.00 in April, 2020.
$ PPP Loan Information
Lender:CIBC BANK USA
Maysteel Porters LLC received a Paycheck Protection Loan of $3.96M through CIBC BANK USA, which was approved in April, 2020.
Based on standard PPP eligibility rules, Maysteel Porters LLC's total 2019 payroll expenses were approximately $19M in order to qualify for the PPP loan amount received.
Based on their reported 398 jobs retained, this equals an estimated average yearly compensation of $47,730 per employee1.
Business Information - Maysteel Porters LLC in Allenton, WI
6199 County Rd W
Allenton, WI 53002
Sheet Metal Work Manufacturing (NAICS code 332322)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: WI-05
Similar Companies near Allenton
In the Allenton area, 3 businesses in the "Sheet Metal Work Manufacturing" industry received a PPP loan. These local businesses reported an average of 235 employees (compared to this company's 398) and received an average PPP loan of $2,633,633 (compared to this company's $3.96M).
Similar Nearby Businesses Who Received PPP Funding:
ALX Metal Works LLC
Maysteel Industries LLC
Industry PPP Comparison Statistics
Nationwide, 2,639 businesses in the "Sheet Metal Work Manufacturing" industry received a total of $793,668,527.00 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 21 employees, 95% lower than Maysteel Porters LLC's reported 398 employees, and received an average PPP loan of $300,746, 92% lower than this company's loan of $3.96M.
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.
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.
Have FederalPay.org's open data tools been valuable? Consider donating!