Pennant Moldings, Inc in Sabina, OH - SBA PPP Loan Data (Paycheck Protection Program)

PPP Loan Data — Pennant Moldings, Inc, Sabina, OH

Pennant Moldings, Inc

Entity: Subchapter S Corporation

Industry: Metal Crown, Closure, and Other Metal Stamping (except Automotive)

Location: Sabina, OH

Pennant Moldings, Inc is a subchapter s corporation located at 12381 Route 22 East in Sabina, Ohio that received a Coronavirus-related PPP loan from the SBA of $2,500,942.00 in April, 2020.

The company has reported itself as a White male owned business, and employed at least 244 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$2.5M

Jobs Retained:

244

Loan Approved:

2020-04-11

Lender:

THE HUNTINGTON NATIONAL BANK

Pennant Moldings, Inc in Sabina, OH received a Paycheck Protection Loan of $2.5M through THE HUNTINGTON NATIONAL BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Pennant Moldings, Inc's total 2019 payroll expenses were approximately $12M in order to qualify for the PPP loan amount received.

Based on their reported 244 jobs retained, this equals an estimated average yearly compensation of $49,199 per employee¹.

Because the loan received by Pennant Moldings, 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 - Pennant Moldings, Inc in Sabina, OH

Pennant Moldings, Inc
12381 Route 22 East
Sabina, OH 45169

Business Industry

Metal Crown, Closure, and Other Metal Stamping (except Automotive) (NAICS code 332119)

Business Owner Demographics

Race / Ethnicity: WHITE

Gender: MALE OWNED

Veteran Status: NON-VETERAN

Congressional District: OH-15

Industry PPP Comparison Statistics

Nationwide, 688 businesses in the "Metal Crown, Closure, and Other Metal Stamping (except Automotive)" industry received a total of $316,503,616.00 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 35 employees, 86% lower than Pennant Moldings, Inc's reported 244 employees, and received an average PPP loan of $460,034, 82% lower than this company's loan of $2.5M.

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, 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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