PPP Loan Data — Superior Tooling, Inc, Wapello, IA
Superior Tooling, Inc
Entity: Subchapter S Corporation
Location: Wapello, IATweet This • Search All PPP Data
Superior Tooling, Inc is a subchapter s corporation located at 836 Weaver Blvd in Wapello, Iowa that received a Coronavirus-related PPP loan from the SBA of $46,200.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least eleven people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Mediapolis Savings Bank
Superior Tooling, Inc in Wapello, IA received a Paycheck Protection Loan of $46,200 through Mediapolis Savings Bank, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in February, 2021.
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, Superior Tooling, Inc's 2019 payroll expenses are estimated to be at least $221,760.
Based on their reported 11 jobs retained, this equals an estimated average yearly compensation of $20,160 per employee1
Reported PPP Proceed Usage:
On the PPP application, Superior Tooling, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,200
Business Information - Superior Tooling, Inc in Wapello, IA
836 Weaver Blvd
Wapello, IA 52653
All Other Miscellaneous Fabricated Metal Product Manufacturing
NAICS code 332999
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
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 Wapello
In the Wapello area, 3 businesses in the "All Other Miscellaneous Fabricated Metal Product Manufacturing" industry received a PPP loan. These local businesses reported an average of 58 employees (compared to this company's 11) and received an average PPP loan of $433,167 (compared to this company's $46,200).
Similar Nearby Businesses Who Received PPP Funding:
S & J Tube, Inc
Industry PPP Comparison Statistics
Nationwide, 8,434 businesses in the "All Other Miscellaneous Fabricated Metal Product Manufacturing" industry received a total of $1.95B 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 20 employees, 82% higher than Superior Tooling, Inc's reported 11 employees, and received an average PPP loan of $231,549, 401% higher than this company's loan of $46,200.
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