PPP Loan Data — Sjoberg Tool And Manufacturing Corp, Hartland, WI
Sjoberg Tool And Manufacturing Corp is a corporation located at 535 S Industrial Dr in Hartland, Wisconsin that received a Coronavirus-related PPP loan from the SBA of $1,532,300.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Associated Bank, National Association
Sjoberg Tool And Manufacturing Corp in Hartland, WI received a Paycheck Protection Loan of $1.53M through Associated Bank, National Association, 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, Sjoberg Tool And Manufacturing Corp's 2019 payroll expenses are estimated to be at least $7.36M.
Based on their reported 136 jobs retained, this equals an estimated average yearly compensation of $54,081 per employee1
Reported PPP Proceed Usage:
On the PPP application, Sjoberg Tool And Manufacturing Corp reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,532,300
Business Information - Sjoberg Tool And Manufacturing Corp in Hartland, WI
535 S Industrial Dr
Hartland, WI 53029
Sheet Metal Work Manufacturing
NAICS code 332322
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Hartland
In the Hartland area, 3 businesses in the "Sheet Metal Work Manufacturing" industry received a PPP loan. These local businesses reported an average of 46 employees (compared to this company's 136) and received an average PPP loan of $527,733 (compared to this company's $1.53M).
Similar Nearby Businesses Who Received PPP Funding:
Harbridge Systems LLC
Industry PPP Comparison Statistics
Nationwide, 4,304 businesses in the "Sheet Metal Work Manufacturing" industry received a total of $1.16B 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 23 employees, 83% lower than Sjoberg Tool And Manufacturing Corp's reported 136 employees, and received an average PPP loan of $268,414, 82% lower than this company's loan of $1.53M.
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Footnotes & Information
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