PPP Loan Data — Steel Equipment Specialists, LLC, Alliance, OH
Steel Equipment Specialists, LLC
Entity: Limited Liability Company (LLC)
Industry: Commercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and Maintenance
Location: Alliance, OHTweet This • Search All PPP Data
Steel Equipment Specialists, LLC is a limited liability company (LLC) located at 1507 Beeson Street in Alliance, Ohio that received a Coronavirus-related PPP loan from the SBA of $2,912,200.00 in April, 2020.
$ PPP Loan Information
Lender:PNC BANK, NATIONAL ASSOCIATION
Steel Equipment Specialists, LLC in Alliance, OH received a Paycheck Protection Loan of $2.91M through PNC BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Steel Equipment Specialists, LLC's total 2019 payroll expenses were approximately $13.98M in order to qualify for the PPP loan amount received.
Based on their reported 145 jobs retained, this equals an estimated average yearly compensation of $96,404 per employee1.
Business Information - Steel Equipment Specialists, LLC in Alliance, OH
1507 Beeson Street
Alliance, OH 44601
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: OH-13
Similar Companies near Alliance
In the Alliance area, 3 businesses in the "Commercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and Maintenance" industry received a PPP loan. These local businesses reported an average of 48 employees (compared to this company's 145) and received an average PPP loan of $1,021,367 (compared to this company's $2.91M).
Similar Nearby Businesses Who Received PPP Funding:
RHZ Environmental Controls, LLC
Carnation Electric Motor Repair And Sales, Inc.
Industry PPP Comparison Statistics
Nationwide, 12,028 businesses in the "Commercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and Maintenance" industry received a total of $1,542,124,009.00 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 10 employees, 93% lower than Steel Equipment Specialists, LLC's reported 145 employees, and received an average PPP loan of $128,211, 96% lower than this company's loan of $2.91M.
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.
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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