PPP Loan Data — Saginaw Pipe, Saginaw, AL
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Saginaw Pipe is a corporation located at 1980 Hwy 315 in Saginaw, Alabama that received a Coronavirus-related PPP loan from the SBA of $2,471,700.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:First Horizon Bank
Saginaw Pipe in Saginaw, AL received a Paycheck Protection Loan of $2.47M through First Horizon Bank, which was approved in April, 2020.
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, Saginaw Pipe's 2019 payroll expenses are estimated to be at least $11.86M.
Based on their reported 169 jobs retained, this equals an estimated average yearly compensation of $70,202 per employee1
Reported PPP Proceed Usage:
On the PPP application, Saginaw Pipe reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,471,700
Business Information - Saginaw Pipe in Saginaw, AL
1980 Hwy 315
Saginaw, AL 35137
Iron and Steel Pipe and Tube Manufacturing from Purchased Steel
NAICS code 331210
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, 1,388 businesses in the "Iron and Steel Pipe and Tube Manufacturing from Purchased Steel" industry received a total of $409.22M 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 25 employees, 85% lower than Saginaw Pipe's reported 169 employees, and received an average PPP loan of $294,829, 88% lower than this company's loan of $2.47M.
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Footnotes & Information
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