PPP Loan Data — Shenango Steel Buildings, Inc, West Middlesex, PA
Shenango Steel Buildings, Inc
Location: West Middlesex, PATweet This • Search All PPP Data
Shenango Steel Buildings, Inc is a corporation located at 33 Carbaugh St in West Middlesex, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $45,772.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:First National Bank of Pennsylvania
Shenango Steel Buildings, Inc in West Middlesex, PA received a Paycheck Protection Loan of $45,772 through First National Bank of Pennsylvania, 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 June, 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, Shenango Steel Buildings, Inc's 2019 payroll expenses are estimated to be at least $219,706.
Based on their reported 7 jobs retained, this equals an estimated average yearly compensation of $31,387 per employee1
Reported PPP Proceed Usage:
On the PPP application, Shenango Steel Buildings, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $45,772
Business Information - Shenango Steel Buildings, Inc in West Middlesex, PA
33 Carbaugh St
West Middlesex, PA 16159
Prefabricated Metal Building and Component Manufacturing
NAICS code 332311
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 1,362 businesses in the "Prefabricated Metal Building and Component Manufacturing" industry received a total of $310.57M 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 21 employees, 200% higher than Shenango Steel Buildings, Inc's reported 7 employees, and received an average PPP loan of $228,025, 398% higher than this company's loan of $45,772.
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Footnotes & Information
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