PPP Loan Data — Parker Trutec, Inc, Springfield, OH
Parker Trutec, Inc is a corporation located at 4700 Gateway Boulevard in Springfield, Ohio that received a Coronavirus-related PPP loan from the SBA of $2,141,200.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Parker Trutec, Inc in Springfield, OH received a Paycheck Protection Loan of $2.14M through SmartBank, which was approved in April, 2020.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
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, Parker Trutec, Inc's 2019 payroll expenses are estimated to be at least $10.28M.
Based on their reported 460 jobs retained, this equals an estimated average yearly compensation of $22,343 per employee1
Reported PPP Proceed Usage:
On the PPP application, Parker Trutec, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,141,200
Business Information - Parker Trutec, Inc in Springfield, OH
4700 Gateway Boulevard
Springfield, OH 45502
Metal Heat Treating
NAICS code 332811
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 631 businesses in the "Metal Heat Treating" industry received a total of $223.72M in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 30 employees, 93% lower than Parker Trutec, Inc's reported 460 employees, and received an average PPP loan of $354,548, 83% lower than this company's loan of $2.14M.
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Footnotes & Information
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