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PPP Loan Data — Precision Aerospace Products, LLC, Kent, WA

SBA PPP loan data, payroll data, and salaries for Precision Aerospace Products, LLC
WA

Precision Aerospace Products, LLC

Entity: Limited Liability Company (LLC)

Industry: Aircraft Engine and Engine Parts Manufacturing

Location: Kent, WA

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Precision Aerospace Products, LLC is a limited liability company (LLC) located at 5802 S 228th St in Kent, Washington that received a Coronavirus-related PPP loan from the SBA of $2,564,423.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.56M

Jobs Retained:

125

Loan Approved:

2020-04-15

Lender:

U.S. BANK, NATIONAL ASSOCIATION

Precision Aerospace Products, LLC in Kent, WA received a Paycheck Protection Loan of $2.56M through U.S. BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Precision Aerospace Products, LLC's total 2019 payroll expenses were approximately $12.31M in order to qualify for the PPP loan amount received.

Based on their reported 125 jobs retained, this equals an estimated average yearly compensation of $98,474 per employee1.

Because the loan received by Precision Aerospace Products, LLC 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 - Precision Aerospace Products, LLC in Kent, WA

Precision Aerospace Products, LLC
5802 S 228th St
Kent, WA 98035

Business Industry

Aircraft Engine and Engine Parts Manufacturing (NAICS code 336412)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: WA-09

Industry PPP Comparison Statistics

Nationwide, 449 businesses in the "Aircraft Engine and Engine Parts Manufacturing" industry received a total of $220,243,418.00 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 32 employees, 74% lower than Precision Aerospace Products, LLC's reported 125 employees, and received an average PPP loan of $490,520, 81% lower than this company's loan of $2.56M.

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.

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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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Source: www.federalpay.org/paycheck-protection-program/precision-aerospace-products-llc-kent-wa