PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Osco Industries Inc, Portsmouth, OH

SBA PPP loan data, payroll data, and salaries for Osco Industries Inc
OH

Osco Industries Inc

Entity: Corporation

Industry: Iron Foundries

Location: Portsmouth, OH

Search All PPP Data

Osco Industries Inc is a corporation located at 11th And Chillicothe in Portsmouth, Ohio that received a Coronavirus-related PPP loan from the SBA of $3,668,700.00 in April, 2020.

$ PPP Loan Information Loan #6064587207

Loan Size:

$3.67M

Jobs Retained:

356

Loan Approved:

2020-04-27

Loan Status:

Ongoing Loan

Lender:

PNC Bank, National Association

Osco Industries Inc in Portsmouth, OH received a Paycheck Protection Loan of $3.67M through PNC Bank, National Association, which was approved in April, 2020.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Osco Industries Inc's 2019 payroll expenses are estimated to be at least $17.61M.

Based on their reported 356 jobs retained, this equals an estimated average yearly compensation of $49,466 per employee1

Reported PPP Proceed Usage:

On the PPP application, Osco Industries Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $3,668,700
Because the loan received by Osco Industries Inc 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 - Osco Industries Inc in Portsmouth, OH

Osco Industries Inc
11th And Chillicothe
Portsmouth, OH 45662

Business Industry:
Iron Foundries
NAICS code 331511

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age:

LMI Zone: Y

HUBZone: N

Rural / Urban: Rural

Scioto County, OH — SBA Office 0593 — Congressional District: OH-02

Industry PPP Comparison Statistics

Nationwide, 281 businesses in the "Iron Foundries" industry received a total of $167,165,972.00 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 49 employees, 86% lower than Osco Industries Inc's reported 356 employees, and received an average PPP loan of $594,897, 84% lower than this company's loan of $3.67M.

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. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. 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!

** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/osco-industries-inc-portsmouth-oh