PPP Loan Data — Stein Fibers, LTD, Albany, NY
Stein Fibers, LTD is a corporation located at 4 Computer Dr W in Albany, New York that received a Coronavirus-related PPP loan from the SBA of $2,666,900.00 in April, 2020.
$ PPP Loan Information
Lender:KEYBANK NATIONAL ASSOCIATION
Stein Fibers, LTD in Albany, NY received a Paycheck Protection Loan of $2.67M through KEYBANK NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Stein Fibers, LTD's total 2019 payroll expenses were approximately $12.8M in order to qualify for the PPP loan amount received.
Based on their reported 221 jobs retained, this equals an estimated average yearly compensation of $57,924 per employee1.
Business Information - Stein Fibers, LTD in Albany, NY
4 Computer Dr W
Albany, NY 12205
Recyclable Material Merchant Wholesalers (NAICS code 423930)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: NY-20
Similar Companies near Albany
In the Albany area, 3 businesses in the "Recyclable Material Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 84 employees (compared to this company's 221) and received an average PPP loan of $965,931 (compared to this company's $2.67M).
Similar Nearby Businesses Who Received PPP Funding:
YS Catalytic Recycling LLC
Yank Waste Co., Inc.
Industry PPP Comparison Statistics
Nationwide, 4,300 businesses in the "Recyclable Material Merchant Wholesalers" industry received a total of $657,310,017.00 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 14 employees, 94% lower than Stein Fibers, LTD's reported 221 employees, and received an average PPP loan of $152,863, 94% lower than this company's loan of $2.67M.
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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