PPP Loan Data — Seitz, LLC, Torrington, CT
Seitz, LLC is a limited liability company (LLC) located at 212 Industrial Lane in Torrington, Connecticut that received a Coronavirus-related PPP loan from the SBA of $1,841,343.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Torrington Savings Bank
Seitz, LLC in Torrington, CT received a Paycheck Protection Loan of $1.84M through Torrington Savings Bank, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in January, 2021.
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, Seitz, LLC's 2019 payroll expenses are estimated to be at least $8.84M.
Based on their reported 129 jobs retained, this equals an estimated average yearly compensation of $68,515 per employee1
Reported PPP Proceed Usage:
On the PPP application, Seitz, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,841,343
Business Information - Seitz, LLC in Torrington, CT
212 Industrial Lane
Torrington, CT 6790
All Other Plastics Product Manufacturing
NAICS code 326199
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Torrington
In the Torrington area, 4 businesses in the "All Other Plastics Product Manufacturing" industry received a PPP loan. These local businesses reported an average of 79 employees (compared to this company's 129) and received an average PPP loan of $1,498,138 (compared to this company's $1.84M).
Similar Nearby Businesses Who Received PPP Funding:
Quest Plastics Inc
DRK Tool & Engineering Co., LLC
Wittmann Battenfeld, Inc
Industry PPP Comparison Statistics
Nationwide, 5,013 businesses in the "All Other Plastics Product Manufacturing" industry received a total of $1.67B 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 34 employees, 74% lower than Seitz, LLC's reported 129 employees, and received an average PPP loan of $333,733, 82% lower than this company's loan of $1.84M.
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Footnotes & Information
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