PPP Loan Data — Scot Forge Company, Spring Grove, IL
Scot Forge Company is a corporation located at 8001 Winn Road in Spring Grove, Illinois that received a Coronavirus-related PPP loan from the SBA of $9,170,700.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 500 people during the applicable loan loan period.
$ PPP Loan Information
Lender:BMO HARRIS BANK NATIONAL ASSOCIATION
Scot Forge Company in Spring Grove, IL received a Paycheck Protection Loan of $9.17M through BMO HARRIS BANK NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Scot Forge Company's total 2019 payroll expenses were approximately $44.02M in order to qualify for the PPP loan amount received.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $88,039 per employee1.
Business Information - Scot Forge Company in Spring Grove, IL
8001 Winn Road
Spring Grove, IL 60081
Iron and Steel Forging (NAICS code 332111)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: MALE OWNED
Veteran Status: UnreportedCongressional District: IL-14
Industry PPP Comparison Statistics
Nationwide, 488 businesses in the "Iron and Steel Forging" industry received a total of $182,828,483.00 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 23 employees, 95% lower than Scot Forge Company's reported 500 employees, and received an average PPP loan of $374,649, 96% lower than this company's loan of $9.17M.
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Footnotes & Information
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