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PPP Loan Data — Sivyer Steel Castings LLC, Bettendorf, IA

SBA PPP loan data, payroll data, and salaries for Sivyer Steel Castings LLC
IA

Sivyer Steel Castings LLC

Entity: Limited Liability Company (LLC)

Industry: Steel Foundries (except Investment)

Location: Bettendorf, IA

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Sivyer Steel Castings LLC is a limited liability company (LLC) located at 225 33rd Street in Bettendorf, Iowa that received a Coronavirus-related PPP loan from the SBA of $3,656,600.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.66M

Jobs Retained:

245

Loan Approved:

2020-04-13

Lender:

AMERICAN COMMUNITY BANK & TRUST

Sivyer Steel Castings LLC in Bettendorf, IA received a Paycheck Protection Loan of $3.66M through AMERICAN COMMUNITY BANK & TRUST, which was approved in April, 2020.

Based on standard PPP eligibility rules, Sivyer Steel Castings LLC's total 2019 payroll expenses were approximately $17.55M in order to qualify for the PPP loan amount received.

Based on their reported 245 jobs retained, this equals an estimated average yearly compensation of $71,640 per employee1.

Because the loan received by Sivyer Steel Castings LLC is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Sivyer Steel Castings LLC in Bettendorf, IA

Sivyer Steel Castings LLC
225 33rd Street
Bettendorf, IA 52722

Business Industry

Steel Foundries (except Investment) (NAICS code 331513)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: IA-02

Industry PPP Comparison Statistics

Nationwide, 137 businesses in the "Steel Foundries (except Investment)" industry received a total of $74,381,992.00 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 39 employees, 84% lower than Sivyer Steel Castings LLC's reported 245 employees, and received an average PPP loan of $542,934, 85% lower than this company's loan of $3.66M.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan. All information displayed on this page is publicly available information under PPP loan guidelines, and is published unmodified, as provided by the SBA.

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Footnotes & Information

1. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.


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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/sivyer-steel-castings-llc-bettendorf-ia