PPP Loan Data — Pawling Engineering Products Inc, Pawling, NY
Pawling Engineering Products Inc is a corporation located at 157 Charles Colman Blcd in Pawling, New York that received a Coronavirus-related PPP loan from the SBA of $1,671,245.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Manufacturers and Traders Trust Company
Pawling Engineering Products Inc in Pawling, NY received a Paycheck Protection Loan of $1.67M through Manufacturers and Traders Trust Company, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in January, 2021.
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, Pawling Engineering Products Inc's 2019 payroll expenses are estimated to be at least $8.02M.
Based on their reported 145 jobs retained, this equals an estimated average yearly compensation of $55,324 per employee1
Reported PPP Proceed Usage:
On the PPP application, Pawling Engineering Products Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,400,000
- Utilities: $86,245
- Mortgage Interest: $20,000
- Health Care: $160,000
- Debt Interest: $5,000
Business Information - Pawling Engineering Products Inc in Pawling, NY
157 Charles Colman Blcd
Pawling, NY 12564
Rubber Product Manufacturing for Mechanical Use
NAICS code 326291
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 336 businesses in the "Rubber Product Manufacturing for Mechanical Use" industry received a total of $132.48M 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 37 employees, 74% lower than Pawling Engineering Products Inc's reported 145 employees, and received an average PPP loan of $394,292, 76% lower than this company's loan of $1.67M.
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Footnotes & Information
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