PPP Loan Data — Schnipke Engraving Company Inc, Ottoville, OH
Schnipke Engraving Company Inc is a corporation located at 14223 Road 24 in Ottoville, Ohio that received a Coronavirus-related PPP loan from the SBA of $4,080,200.00 in April, 2020.
The company has reported itself as a White female owned business, and employed at least 177 people during the applicable loan loan period.
$ PPP Loan Information
Lender:THE HUNTINGTON NATIONAL BANK
Schnipke Engraving Company Inc in Ottoville, OH received a Paycheck Protection Loan of $4.08M through THE HUNTINGTON NATIONAL BANK, 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 177 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 196.
Based on standard PPP eligibility rules, Schnipke Engraving Company Inc's total 2019 payroll expenses were approximately $19.58M (not accounting for salary amounts > $100k) in order to qualify for the PPP loan amount received.
Because the 177 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Business Information - Schnipke Engraving Company Inc in Ottoville, OH
14223 Road 24
Ottoville, OH 45876
All Other Plastics Product Manufacturing (NAICS code 326199)
Business Owner Demographics
Race / Ethnicity: WHITE
Gender: FEMALE OWNED
Veteran Status: NON-VETERANCongressional District: OH-05
Industry PPP Comparison Statistics
Nationwide, 3,247 businesses in the "All Other Plastics Product Manufacturing" industry received a total of $1,252,980,223.00 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 33 employees, 81% lower than Schnipke Engraving Company Inc's reported 177 employees, and received an average PPP loan of $385,889, 91% lower than this company's loan of $4.08M.
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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