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PPP Loan Data — National Salvage & Service Corporation, Bloomington, IN

SBA PPP loan data, payroll data, and salaries for National Salvage & Service Corporation
IN

National Salvage & Service Corporation

Entity: Corporation

Industry: Transportation Equipment and Supplies (except Motor Vehicle) Merchant Wholesalers

Location: Bloomington, IN

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National Salvage & Service Corporation is a corporation located at 6755 S. Old State Road 37 in Bloomington, Indiana that received a Coronavirus-related PPP loan from the SBA of $4,125,960.00 in May, 2020.

$ PPP Loan Information

Loan Size:

$4.13M

Jobs Retained:

0 Unreported

Loan Approved:

2020-05-01

Lender:

WELLS FARGO BANK, NATIONAL ASSOCIATION

National Salvage & Service Corporation received a Paycheck Protection Loan of $4.13M through WELLS FARGO BANK, NATIONAL ASSOCIATION, which was approved in May, 2020.

Based on standard PPP eligibility rules, National Salvage & Service Corporation's total 2019 payroll expenses were approximately $19.8M in order to qualify for the PPP loan amount received.

Unlike most businesses, National Salvage & Service Corporation's PPP data does not report the number of jobs retained by their receipt of the Paycheck Protection Loan (some banks did not release this infomation from their loan applications). Without this data, per-employee payrolls for this company cannot be estimated.

Because the loan received by National Salvage & Service Corporation 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 - National Salvage & Service Corporation in Bloomington, IN

National Salvage & Service Corporation
6755 S. Old State Road 37
Bloomington, IN 47401

Business Industry

Transportation Equipment and Supplies (except Motor Vehicle) Merchant Wholesalers (NAICS code 423860)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: IN-09

Industry PPP Comparison Statistics

Nationwide, 2,260 businesses in the "Transportation Equipment and Supplies (except Motor Vehicle) Merchant Wholesalers" industry received a total of $288,357,851.00 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 9 employees, and received an average PPP loan of $127,592, 97% lower than this company's loan of $4.13M.

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.

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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/national-salvage-and-service-corporation-bloomington-in