PPP Loan Data — REC Advanced Silicon Materials LLC, Butte, MT
REC Advanced Silicon Materials LLC
Entity: Limited Liability Company (LLC)
Location: Butte, MTTweet This • Search All PPP Data
REC Advanced Silicon Materials LLC is a limited liability company (LLC) located at 119140 Rick Jones Way in Butte, Montana that received a Coronavirus-related PPP loan from the SBA of $4,424,400.00 in April, 2020.
$ PPP Loan Information
Lender:STOCKMAN BANK OF MONTANA
REC Advanced Silicon Materials LLC received a Paycheck Protection Loan of $4.42M through STOCKMAN BANK OF MONTANA, which was approved in April, 2020.
The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 205 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.
2019 Payroll Estimations based On PPP Amount:
Assuming all employees were paid over the $100k eligibility cap, the minimum number of employees this company must have had in 2019 to qualify for the loan range received is 212.
Based on standard PPP eligibility rules, REC Advanced Silicon Materials LLC's total 2019 payroll expenses were approximately $21.24M (not accounting for salary amounts > $100k) in order to qualify for the PPP loan amount received.
Because the 205 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Business Information - REC Advanced Silicon Materials LLC in Butte, MT
119140 Rick Jones Way
Butte, MT 59750
Nonferrous Metal (except Aluminum) Smelting and Refining (NAICS code 331410)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: MT-
Industry PPP Comparison Statistics
Nationwide, 123 businesses in the "Nonferrous Metal (except Aluminum) Smelting and Refining" industry received a total of $42,788,341.00 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 27 employees, 87% lower than REC Advanced Silicon Materials LLC's reported 205 employees, and received an average PPP loan of $347,873, 92% lower than this company's loan of $4.42M.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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