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PPP Loan Data — Priority Plastics, Portland, IN

SBA PPP loan data, payroll data, and salaries for Priority Plastics
IN

Priority Plastics

Entity: Corporation

Industry: Plastics Material and Resin Manufacturing

Location: Portland, IN

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Priority Plastics is a corporation located at 500 Industrial Park Drive in Portland, Indiana that received a Coronavirus-related PPP loan from the SBA of $2,726,118.00 in April, 2020.

The company has reported itself as a male owned business, and employed at least 256 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$2.73M

Jobs Retained:

256

Loan Approved:

2020-04-06

Lender:

FIRST BANK

Priority Plastics in Portland, IN received a Paycheck Protection Loan of $2.73M through FIRST BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Priority Plastics' total 2019 payroll expenses were approximately $13.09M in order to qualify for the PPP loan amount received.

Based on their reported 256 jobs retained, this equals an estimated average yearly compensation of $51,115 per employee1.

Because the loan received by Priority Plastics 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 - Priority Plastics in Portland, IN

Priority Plastics
500 Industrial Park Drive
Portland, IN 47371

Business Industry

Plastics Material and Resin Manufacturing (NAICS code 325211)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: MALE OWNED

Veteran Status: Unreported

Congressional District: IN-03

Industry PPP Comparison Statistics

Nationwide, 858 businesses in the "Plastics Material and Resin Manufacturing" industry received a total of $311,116,969.00 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 29 employees, 89% lower than Priority Plastics' reported 256 employees, and received an average PPP loan of $362,607, 87% lower than this company's loan of $2.73M.

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.

Search FederalPay's Full PPP Loan Database

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/priority-plastics-portland-in