PPP Loan Data — Polamer Precision Inc, New Britain, CT
Polamer Precision Inc
Location: New Britain, CTTweet This • Search All PPP Data
Polamer Precision Inc is a corporation located at 105 Alton Brooks Way in New Britain, Connecticut that received a Coronavirus-related PPP loan from the SBA of $3,480,822.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 272 people during the applicable loan loan period.
$ PPP Loan Information
Lender:BANK OF AMERICA, NATIONAL ASSOCIATION
Polamer Precision Inc in New Britain, CT received a Paycheck Protection Loan of $3.48M through BANK OF AMERICA, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Polamer Precision Inc's total 2019 payroll expenses were approximately $16.71M in order to qualify for the PPP loan amount received.
Based on their reported 272 jobs retained, this equals an estimated average yearly compensation of $61,426 per employee1.
Business Information - Polamer Precision Inc in New Britain, CT
105 Alton Brooks Way
New Britain, CT 6053
Other Aircraft Parts and Auxiliary Equipment Manufacturing (NAICS code 336413)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: MALE OWNED
Veteran Status: UnreportedCongressional District: CT-05
Industry PPP Comparison Statistics
Nationwide, 841 businesses in the "Other Aircraft Parts and Auxiliary Equipment Manufacturing" industry received a total of $453,528,343.00 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 33 employees, 88% lower than Polamer Precision Inc's reported 272 employees, and received an average PPP loan of $539,273, 85% lower than this company's loan of $3.48M.
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.
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.
Have FederalPay.org's open data tools been valuable? Consider donating!