PPP Loan Data — Schwing America, Inc, Saint Paul, MN
Schwing America, Inc
Location: Saint Paul, MNTweet This • Search All PPP Data
Schwing America, Inc is a corporation located at 5900 Centerville Rd in Saint Paul, Minnesota that received a Coronavirus-related PPP loan from the SBA of $1,932,800.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Associated Bank, National Association
Schwing America, Inc in Saint Paul, MN received a Paycheck Protection Loan of $1.93M through Associated Bank, National Association, 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, Schwing America, Inc's 2019 payroll expenses are estimated to be at least $9.28M.
Based on their reported 217 jobs retained, this equals an estimated average yearly compensation of $42,753 per employee1
Reported PPP Proceed Usage:
On the PPP application, Schwing America, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,932,800
Business Information - Schwing America, Inc in Saint Paul, MN
5900 Centerville Rd
Saint Paul, MN 55127
Industrial Machinery and Equipment Merchant Wholesalers
NAICS code 423830
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Saint Paul
In the Saint Paul area, 4 businesses in the "Industrial Machinery and Equipment Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 77 employees (compared to this company's 217) and received an average PPP loan of $854,260 (compared to this company's $1.93M).
Similar Nearby Businesses Who Received PPP Funding:
Motion Tech Automation, LLC
Saint Paul, MN
Mcknight Artisan Inc
Saint Paul, MN
Industry PPP Comparison Statistics
Nationwide, 11,076 businesses in the "Industrial Machinery and Equipment Merchant Wholesalers" industry received a total of $2.24B 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 15 employees, 93% lower than Schwing America, Inc's reported 217 employees, and received an average PPP loan of $202,534, 90% lower than this company's loan of $1.93M.
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Footnotes & Information
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