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PPP Loan Data — Polatechno Co, LTD, Orem, UT

SBA PPP loan data, payroll data, and salaries for Polatechno Co, LTD
UT

Polatechno Co, LTD

Entity: Corporation

Industry: Air and Gas Compressor Manufacturing

Location: Orem, UT

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Polatechno Co, LTD is a corporation located at 452 West 1260 North in Orem, Utah that received a Coronavirus-related PPP loan from the SBA of $3,471,597.00 in May, 2020.

The company has reported itself as a male owned business, and employed at least 238 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$3.47M

Jobs Retained:

238

Loan Approved:

2020-05-01

Lender:

MUFG UNION BANK, NATIONAL ASSOCIATION

Polatechno Co, LTD received a Paycheck Protection Loan of $3.47M through MUFG UNION BANK, NATIONAL ASSOCIATION, which was approved in May, 2020.

Based on standard PPP eligibility rules, Polatechno Co, LTD's total 2019 payroll expenses were approximately $16.66M in order to qualify for the PPP loan amount received.

Based on their reported 238 jobs retained, this equals an estimated average yearly compensation of $70,015 per employee1.

Because the loan received by Polatechno Co, LTD 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 - Polatechno Co, LTD in Orem, UT

Polatechno Co, LTD
452 West 1260 North
Orem, UT 84057

Business Industry

Air and Gas Compressor Manufacturing (NAICS code 333912)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: MALE OWNED

Veteran Status: Unreported

Congressional District: UT-03

Industry PPP Comparison Statistics

Nationwide, 255 businesses in the "Air and Gas Compressor Manufacturing" industry received a total of $89,678,490.00 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 23 employees, 90% lower than Polatechno Co, LTD's reported 238 employees, and received an average PPP loan of $351,680, 90% lower than this company's loan of $3.47M.

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.

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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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/polatechno-co-ltd-orem-ut