Palmer-Donavin Holdings Inc. in Grove City, OH - SBA PPP Loan Data (Paycheck Protection Program)

PPP Loan Data — Palmer-Donavin Holdings Inc., Grove City, OH

Palmer-Donavin Holdings Inc.

Entity: Employee Stock Ownership Plan (esop)

Industry: All Other Miscellaneous Wood Product Manufacturing

Location: Grove City, OH

Palmer-Donavin Holdings Inc. is an employee stock ownership plan (esop) located at 3210 Centerpoint Drive in Grove City, Ohio that received a Coronavirus-related PPP loan from the SBA of $6,767,700.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$6.77M

Jobs Retained:

498

Loan Approved:

2020-04-09

Lender:

BMO HARRIS BANK NATIONAL ASSOCIATION

Palmer-Donavin Holdings Inc. received a Paycheck Protection Loan of $6.77M through BMO HARRIS BANK NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Palmer-Donavin Holdings Inc.'s total 2019 payroll expenses were approximately $32.48M in order to qualify for the PPP loan amount received.

Based on their reported 498 jobs retained, this equals an estimated average yearly compensation of $65,231 per employee¹.

Because the loan received by Palmer-Donavin Holdings 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 - Palmer-Donavin Holdings Inc. in Grove City, OH

Palmer-Donavin Holdings Inc.
3210 Centerpoint Drive
Grove City, OH 43123

Business Industry

All Other Miscellaneous Wood Product Manufacturing (NAICS code 321999)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: OH-03

Industry PPP Comparison Statistics

Nationwide, 2,448 businesses in the "All Other Miscellaneous Wood Product Manufacturing" industry received a total of $338,832,974.00 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 13 employees, 97% lower than Palmer-Donavin Holdings Inc.'s reported 498 employees, and received an average PPP loan of $138,412, 98% lower than this company's loan of $6.77M.

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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