PPP Loan Data — Schaeffer Manufacturing Company, Saint Louis, MO
Schaeffer Manufacturing Company
Entity: Subchapter S Corporation
Location: Saint Louis, MOTweet This • Search All PPP Data
Schaeffer Manufacturing Company is a subchapter s corporation located at 102 Barton St in Saint Louis, Missouri that received a Coronavirus-related PPP loan from the SBA of $2,301,300.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 138 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Cass Commercial Bank
Schaeffer Manufacturing Company in Saint Louis, MO received a Paycheck Protection Loan of $2.3M through Cass Commercial 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, Schaeffer Manufacturing Company's 2019 payroll expenses are estimated to be at least $11.05M.
Based on their reported 138 jobs retained, this equals an estimated average yearly compensation of $80,045 per employee1
Reported PPP Proceed Usage:
On the PPP application, Schaeffer Manufacturing Company reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,301,300
Business Information - Schaeffer Manufacturing Company in Saint Louis, MO
102 Barton St
Saint Louis, MO 63104
Petroleum Lubricating Oil and Grease Manufacturing
NAICS code 324191
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 443 businesses in the "Petroleum Lubricating Oil and Grease Manufacturing" industry received a total of $134.7M 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 22 employees, 84% lower than Schaeffer Manufacturing Company's reported 138 employees, and received an average PPP loan of $304,064, 87% lower than this company's loan of $2.3M.
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Footnotes & Information
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