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PPP Loan Data — Southwestern Wire Inc, Norman, OK

SBA PPP loan data, payroll data, and salaries for Southwestern Wire Inc
OK

Southwestern Wire Inc

Entity: Corporation

Industry: Steel Wire Drawing

Location: Norman, OK

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Southwestern Wire Inc is a corporation located at 3505 North Interstate Dr in Norman, Oklahoma that received a Coronavirus-related PPP loan from the SBA of $3,247,200.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.25M

Jobs Retained:

258

Loan Approved:

2020-04-05

Lender:

VALLIANCE BANK

Southwestern Wire Inc received a Paycheck Protection Loan of $3.25M through VALLIANCE BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Southwestern Wire Inc's total 2019 payroll expenses were approximately $15.59M in order to qualify for the PPP loan amount received.

Based on their reported 258 jobs retained, this equals an estimated average yearly compensation of $60,413 per employee1.

Because the loan received by Southwestern Wire Inc 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 - Southwestern Wire Inc in Norman, OK

Southwestern Wire Inc
3505 North Interstate Dr
Norman, OK 73069

Business Industry

Steel Wire Drawing (NAICS code 331222)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: OK-04

Industry PPP Comparison Statistics

Nationwide, 115 businesses in the "Steel Wire Drawing" industry received a total of $51,983,649.00 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 35 employees, 86% lower than Southwestern Wire Inc's reported 258 employees, and received an average PPP loan of $452,032, 86% lower than this company's loan of $3.25M.

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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) 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/southwestern-wire-inc-norman-ok