PPP Loan Data — Pinnacle Industrial Enterprises, Inc, Bowling Green, OH
Pinnacle Industrial Enterprises, Inc is a corporation located at 513 Napoleon Rd in Bowling Green, Ohio that received a Coronavirus-related PPP loan from the SBA of $1,548,086.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 156 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:WesBanco Bank, Inc.
Pinnacle Industrial Enterprises, Inc in Bowling Green, OH received a Paycheck Protection Loan of $1.55M through WesBanco Bank, Inc., 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 February, 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, Pinnacle Industrial Enterprises, Inc's 2019 payroll expenses are estimated to be at least $7.43M.
Based on their reported 156 jobs retained, this equals an estimated average yearly compensation of $47,633 per employee1
Reported PPP Proceed Usage:
On the PPP application, Pinnacle Industrial Enterprises, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,548,086
Business Information - Pinnacle Industrial Enterprises, Inc in Bowling Green, OH
513 Napoleon Rd
Bowling Green, OH 43402
All Other Plastics Product Manufacturing
NAICS code 326199
Business Owner Demographics
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 5,013 businesses in the "All Other Plastics Product Manufacturing" industry received a total of $1.67B 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 34 employees, 78% lower than Pinnacle Industrial Enterprises, Inc's reported 156 employees, and received an average PPP loan of $333,733, 78% lower than this company's loan of $1.55M.
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Footnotes & Information
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