PPP Loan Data — Struktol Company Of America, LLC, Stow, OH
Struktol Company Of America, LLC is a limited liability company (LLC) located at 201 E Steels Corners Rd in Stow, Ohio that received a Coronavirus-related PPP loan from the SBA of $1,840,200.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:KeyBank National Association
Struktol Company Of America, LLC in Stow, OH received a Paycheck Protection Loan of $1.84M through KeyBank 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, Struktol Company Of America, LLC's 2019 payroll expenses are estimated to be at least $8.83M.
Based on their reported 119 jobs retained, this equals an estimated average yearly compensation of $74,227 per employee1
Reported PPP Proceed Usage:
On the PPP application, Struktol Company Of America, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,840,200
Business Information - Struktol Company Of America, LLC in Stow, OH
201 E Steels Corners Rd
Stow, OH 44224
All Other Basic Organic Chemical Manufacturing
NAICS code 325199
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 770 businesses in the "All Other Basic Organic Chemical Manufacturing" industry received a total of $213.9M 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 19 employees, 84% lower than Struktol Company Of America, LLC's reported 119 employees, and received an average PPP loan of $277,790, 85% lower than this company's loan of $1.84M.
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Footnotes & Information
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