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PPP Loan Data — Priority Plastics,
Portland, 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:
Jobs Retained:
256Loan Approved:
2020-04-06Lender:
FIRST BANKPriority 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.
Business Information - Priority Plastics in Portland, IN
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-03Industry 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.
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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