PPP Loan Data — Style Crest Enterprises, Inc, Fremont, OH
Style Crest Enterprises, Inc is a corporation located at 2450 Enterprise St in Fremont, Ohio that received a Coronavirus-related PPP loan from the SBA of $1,925,000.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:The Croghan Colonial Bank
Style Crest Enterprises, Inc in Fremont, OH received a Paycheck Protection Loan of $1.93M through The Croghan Colonial Bank, 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, Style Crest Enterprises, Inc's 2019 payroll expenses are estimated to be at least $9.24M.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $18,480 per employee1
Reported PPP Proceed Usage:
On the PPP application, Style Crest Enterprises, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,443,750
- Utilities: $240,625
- Rent: $240,625
Business Information - Style Crest Enterprises, Inc in Fremont, OH
2450 Enterprise St
Fremont, OH 43420
All Other Plastics Product Manufacturing
NAICS code 326199
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 5,013 businesses in the "All Other Plastics Product Manufacturing" industry received a total of $1.67B 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 34 employees, 93% lower than Style Crest Enterprises, Inc's reported 500 employees, and received an average PPP loan of $333,733, 83% lower than this company's loan of $1.93M.
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Footnotes & Information
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