PPP Loan Data — Plastic Recycling, Inc, Indianapolis, IN
Plastic Recycling, Inc is a corporation located at 7601 Rockville Rd in Indianapolis, Indiana that received a Coronavirus-related PPP loan from the SBA of $1,833,452.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 159 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Plastic Recycling, Inc in Indianapolis, IN received a Paycheck Protection Loan of $1.83M through Horizon 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 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, Plastic Recycling, Inc's 2019 payroll expenses are estimated to be at least $8.8M.
Based on their reported 159 jobs retained, this equals an estimated average yearly compensation of $55,349 per employee1
Reported PPP Proceed Usage:
On the PPP application, Plastic Recycling, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,466,762
- Utilities: $183,344
- Mortgage Interest: $183,346
Business Information - Plastic Recycling, Inc in Indianapolis, IN
7601 Rockville Rd
Indianapolis, IN 46214
Custom Compounding of Purchased Resins
NAICS code 325991
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Indianapolis
In the Indianapolis area, 2 businesses in the "Custom Compounding of Purchased Resins" industry received a PPP loan. These local businesses reported an average of 155 employees (compared to this company's 159) and received an average PPP loan of $1,759,373 (compared to this company's $1.83M).
Similar Nearby Businesses Who Received PPP Funding:
Industry PPP Comparison Statistics
Nationwide, 333 businesses in the "Custom Compounding of Purchased Resins" industry received a total of $60.52M 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 17 employees, 89% lower than Plastic Recycling, Inc's reported 159 employees, and received an average PPP loan of $181,732, 90% lower than this company's loan of $1.83M.
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Footnotes & Information
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