PPP Loan Data — Qualex Manufacturing, Lc, Georgetown, KY
Qualex Manufacturing, Lc is a corporation located at 261 Triport Rd in Georgetown, Kentucky that received a Coronavirus-related PPP loan from the SBA of $3,012,100.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 304 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Traditional Bank, Inc.
Qualex Manufacturing, Lc in Georgetown, KY received a Paycheck Protection Loan of $3.01M through Traditional Bank, Inc., 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 July, 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, Qualex Manufacturing, Lc's 2019 payroll expenses are estimated to be at least $14.46M.
Based on their reported 304 jobs retained, this equals an estimated average yearly compensation of $47,559 per employee1
Reported PPP Proceed Usage:
On the PPP application, Qualex Manufacturing, Lc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $3,012,100
Business Information - Qualex Manufacturing, Lc in Georgetown, KY
261 Triport Rd
Georgetown, KY 40324
Sheet Metal Work Manufacturing
NAICS code 332322
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Businesses Using Same Address:
There is one other business that received a PPP loan registered to the same address as Qualex Manufacturing, Lc.
Moore Communications LLC
All Other Miscellaneous Fabricated Metal Product Manufacturing
Similar Companies near Georgetown
In the Georgetown area, 7 businesses in the "Sheet Metal Work Manufacturing" industry received a PPP loan. These local businesses reported an average of 53 employees (compared to this company's 304) and received an average PPP loan of $559,875 (compared to this company's $3.01M).
Similar Nearby Businesses Who Received PPP Funding:
Complex Machining And Fabrication Inc
Cassady Industries LLC
D & R Metal Fab Inc
MVH Sheet Metal LLC
Industry PPP Comparison Statistics
Nationwide, 4,293 businesses in the "Sheet Metal Work Manufacturing" industry received a total of $1.15B 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 23 employees, 92% lower than Qualex Manufacturing, Lc's reported 304 employees, and received an average PPP loan of $267,810, 91% lower than this company's loan of $3.01M.
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Footnotes & Information
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