PPP Loan Data — Stecker Machine Co., Inc, Manitowoc, WI
Stecker Machine Co., Inc is a corporation located at 5107 County Road C in Manitowoc, Wisconsin that received a Coronavirus-related PPP loan from the SBA of $2,949,500.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 248 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:BMO Harris Bank National Association
Stecker Machine Co., Inc in Manitowoc, WI received a Paycheck Protection Loan of $2.95M through BMO Harris Bank National Association, which was approved in April, 2020.
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, Stecker Machine Co., Inc's 2019 payroll expenses are estimated to be at least $14.16M.
Based on their reported 248 jobs retained, this equals an estimated average yearly compensation of $57,087 per employee1
Reported PPP Proceed Usage:
On the PPP application, Stecker Machine Co., Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,949,500
Business Information - Stecker Machine Co., Inc in Manitowoc, WI
5107 County Road C
Manitowoc, WI 54220
NAICS code 332710
Business Owner Demographics
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Manitowoc
In the Manitowoc area, 8 businesses in the "Machine Shops" industry received a PPP loan. These local businesses reported an average of 45 employees (compared to this company's 248) and received an average PPP loan of $555,573 (compared to this company's $2.95M).
Similar Nearby Businesses Who Received PPP Funding:
Modern Tool And Machine, Inc
JBA Precision LLC
Kitzerow Machine, Inc
Kaufman MFG Co
Industry PPP Comparison Statistics
Nationwide, 16,572 businesses in the "Machine Shops" industry received a total of $2.92B 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 15 employees, 94% lower than Stecker Machine Co., Inc's reported 248 employees, and received an average PPP loan of $176,279, 94% lower than this company's loan of $2.95M.
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Footnotes & Information
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