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PPP Loan Data — Paramont MFG LLC, Abingdon, VA

SBA PPP loan data, payroll data, and salaries for Paramont MFG LLC
VA

Paramont MFG LLC

Entity: Limited Liability Company (LLC)

Industry: Other Motor Vehicle Parts Manufacturing

Location: Abingdon, VA

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Paramont MFG LLC is a limited liability company (LLC) located at 18259 Westinghouse Rd in Abingdon, Virginia that received a Coronavirus-related PPP loan from the SBA of $3,984,800.00 in April, 2020.

The company has reported itself as a male owned business.

$ PPP Loan Information

Loan Size:

$3.98M

Jobs Retained:

0 Unreported

Loan Approved:

2020-04-04

Lender:

THE FIRST BANK AND TRUST COMPANY

Paramont MFG LLC received a Paycheck Protection Loan of $3.98M through THE FIRST BANK AND TRUST COMPANY, which was approved in April, 2020.

Based on standard PPP eligibility rules, Paramont MFG LLC's total 2019 payroll expenses were approximately $19.13M in order to qualify for the PPP loan amount received.

Unlike most businesses, Paramont MFG LLC'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 Paramont MFG LLC 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 - Paramont MFG LLC in Abingdon, VA

Paramont MFG LLC
18259 Westinghouse Rd
Abingdon, VA 24210

Business Industry

Other Motor Vehicle Parts Manufacturing (NAICS code 336390)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: MALE OWNED

Veteran Status: Unreported

Congressional District: VA-09

Industry PPP Comparison Statistics

Nationwide, 1,012 businesses in the "Other Motor Vehicle Parts Manufacturing" industry received a total of $430,804,983.00 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 33 employees, and received an average PPP loan of $425,697, 89% lower than this company's loan of $3.98M.

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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Source: www.federalpay.org/paycheck-protection-program/paramont-mfg-llc-abingdon-va