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PPP Loan Data — Spirol International Corp, Danielson, CT

SBA PPP loan data, payroll data, and salaries for Spirol International Corp
CT

Spirol International Corp

Entity: Corporation

Industry: All Other Miscellaneous Fabricated Metal Product Manufacturing

Location: Danielson, CT

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Spirol International Corp is a corporation located at 30 Rock Ave in Danielson, Connecticut that received a Coronavirus-related PPP loan from the SBA of $3,500,000.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.5M

Jobs Retained:

0 Unreported

Loan Approved:

2020-04-14

Lender:

CITIZENS BANK, NATIONAL ASSOCIATION

Spirol International Corp received a Paycheck Protection Loan of $3.5M through CITIZENS BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Spirol International Corp's total 2019 payroll expenses were approximately $16.8M in order to qualify for the PPP loan amount received.

Unlike most businesses, Spirol International Corp's PPP data does not report the number of jobs retained by their receipt of the Paycheck Protection Loan (some banks did not release this infomation from their loan applications). Without this data, per-employee payrolls for this company cannot be estimated.

Because the loan received by Spirol International Corp 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 - Spirol International Corp in Danielson, CT

Spirol International Corp
30 Rock Ave
Danielson, CT 6239

Business Industry

All Other Miscellaneous Fabricated Metal Product Manufacturing (NAICS code 332999)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: CT-02

Industry PPP Comparison Statistics

Nationwide, 4,328 businesses in the "All Other Miscellaneous Fabricated Metal Product Manufacturing" industry received a total of $1,219,008,137.00 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 22 employees, and received an average PPP loan of $281,656, 92% lower than this company's loan of $3.5M.

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/spirol-international-corp-danielson-ct