PPP Loan Data — Precision Concepts Group LLC, Winston Salem, NC
Precision Concepts Group LLC is a limited liability company (LLC) located at 2701 Boulder Park Ct in Winston Salem, North Carolina that received a Coronavirus-related PPP loan from the SBA of $2,004,343.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Precision Concepts Group LLC in Winston Salem, NC received a Paycheck Protection Loan of $2M through Pinnacle 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
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, Precision Concepts Group LLC's 2019 payroll expenses are estimated to be at least $9.62M.
Based on their reported 198 jobs retained, this equals an estimated average yearly compensation of $48,590 per employee1
Reported PPP Proceed Usage:
On the PPP application, Precision Concepts Group LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,004,343
Business Information - Precision Concepts Group LLC in Winston Salem, NC
2701 Boulder Park Ct
Winston Salem, NC 27101
Industrial Mold Manufacturing
NAICS code 333511
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 1,132 businesses in the "Industrial Mold Manufacturing" industry received a total of $333.26M 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 24 employees, 88% lower than Precision Concepts Group LLC's reported 198 employees, and received an average PPP loan of $294,400, 85% lower than this company's loan of $2M.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!