PPP Loan Data — New Star Metals Inc, Canton, MI
New Star Metals Inc is a corporation located at 6855 Commerce Blvd in Canton, Michigan that received a Coronavirus-related PPP loan from the SBA of $5,501,500.00 in April, 2020.
$ PPP Loan Information
Lender:THE HUNTINGTON NATIONAL BANK
New Star Metals Inc received a Paycheck Protection Loan of $5.5M through THE HUNTINGTON NATIONAL BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, New Star Metals Inc's total 2019 payroll expenses were approximately $26.41M in order to qualify for the PPP loan amount received.
Based on their reported 283 jobs retained, this equals an estimated average yearly compensation of $93,312 per employee1.
Business Information - New Star Metals Inc in Canton, MI
6855 Commerce Blvd
Canton, MI 48187
Industrial Valve Manufacturing (NAICS code 332911)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: MI-11
Industry PPP Comparison Statistics
Nationwide, 516 businesses in the "Industrial Valve Manufacturing" industry received a total of $215,302,563.00 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 27 employees, 90% lower than New Star Metals Inc's reported 283 employees, and received an average PPP loan of $417,253, 92% lower than this company's loan of $5.5M.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!