PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Pioneer Products Inc, Racine, WI

ALERT: There are 2 PPP loans for a total of $3.69M in our database for businesses with the name "Pioneer Products Inc" in Racine, WI. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Pioneer Products Inc
WI

Pioneer Products Inc

Entity: Subchapter S Corporation

Industry: Machine Shops

Location: Racine, WI

Search All PPP Data

Pioneer Products Inc is a subchapter s corporation located at 1917 S Memorial Dr in Racine, Wisconsin that received a Coronavirus-related PPP loan from the SBA of $1,753,833.00 in February, 2021.

$ PPP Loan Information
Loan #4455248509

Loan Size:

$1.75M

Jobs Retained:

152

Loan Approved:

2021-02-25

Loan Status:

Ongoing Loan

Lender:

First Midwest Bank

Pioneer Products Inc in Racine, WI received a Paycheck Protection Loan of $1.75M through First Midwest Bank, which was approved in February, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Pioneer Products Inc's 2019 payroll expenses are estimated to be at least $8.42M.

Based on their reported 152 jobs retained, this equals an estimated average yearly compensation of $55,384 per employee1

Reported PPP Proceed Usage:

On the PPP application, Pioneer Products Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,753,831
  • Utilities: $1

Business Information - Pioneer Products Inc in Racine, WI

Pioneer Products Inc
1917 S Memorial Dr
Racine, WI 53403

Business Industry:
Machine Shops
NAICS code 332710

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Racine County, WI — SBA Office 0563 — Congressional District: WI-01

Similar Companies near Racine

In the Racine area, 15 businesses in the "Machine Shops" industry received a PPP loan. These local businesses reported an average of 40 employees (compared to this company's 152) and received an average PPP loan of $505,235 (compared to this company's $1.75M).

Industry PPP Comparison Statistics

Nationwide, 16,572 businesses in the "Machine Shops" industry received a total of $2.92B 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 15 employees, 90% lower than Pioneer Products Inc's reported 152 employees, and received an average PPP loan of $176,279, 90% lower than this company's loan of $1.75M.

SBA PPP loan data, payroll data, and salaries for Pioneer Products, Inc
WI

Pioneer Products, Inc

Entity: Subchapter S Corporation

Industry: Machine Shops

Location: Racine, WI

Search All PPP Data

Pioneer Products, Inc is a subchapter s corporation located at 1917 S Memorial Drive in Racine, Wisconsin that received a Coronavirus-related PPP loan from the SBA of $1,938,400.00 in April, 2020.

$ PPP Loan Information
Loan #5549367008

Loan Size:

$1.94M

Jobs Retained:

161

Loan Approved:

2020-04-05

Loan Status:

Paid in Full or Forgiven

Lender:

Johnson Bank

Pioneer Products, Inc in Racine, WI received a Paycheck Protection Loan of $1.94M through Johnson Bank, 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 June, 2021.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Pioneer Products, Inc's 2019 payroll expenses are estimated to be at least $9.3M.

Based on their reported 161 jobs retained, this equals an estimated average yearly compensation of $57,791 per employee1

Reported PPP Proceed Usage:

On the PPP application, Pioneer Products, Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,453,800
  • Utilities: $242,300
  • Mortgage Interest: $242,300

Business Information - Pioneer Products, Inc in Racine, WI

Pioneer Products, Inc
1917 S Memorial Drive
Racine, WI 53403

Business Industry:
Machine Shops
NAICS code 332710

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Racine County, WI — SBA Office 0563 — Congressional District: WI-01

Similar Companies near Racine

In the Racine area, 15 businesses in the "Machine Shops" industry received a PPP loan. These local businesses reported an average of 40 employees (compared to this company's 161) and received an average PPP loan of $505,235 (compared to this company's $1.94M).

Industry PPP Comparison Statistics

Nationwide, 16,572 businesses in the "Machine Shops" industry received a total of $2.92B 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 15 employees, 91% lower than Pioneer Products, Inc's reported 161 employees, and received an average PPP loan of $176,279, 91% lower than this company's loan of $1.94M.

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. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. 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/pioneer-products-inc-racine-wi