PPP Loan Data — Swift Glass Co., Inc, Elmira, NY
Swift Glass Co., Inc
Location: Elmira, NYTweet This • Search All PPP Data
Swift Glass Co., Inc is a corporation located at 131 22nd St in Elmira, New York that received a Coronavirus-related PPP loan from the SBA of $1,663,500.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Chemung Canal Trust Company
Swift Glass Co., Inc in Elmira, NY received a Paycheck Protection Loan of $1.66M through Chemung Canal Trust Company, 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 January, 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, Swift Glass Co., Inc's 2019 payroll expenses are estimated to be at least $7.98M.
Based on their reported 99 jobs retained, this equals an estimated average yearly compensation of $80,655 per employee1
Reported PPP Proceed Usage:
On the PPP application, Swift Glass Co., Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,663,500
Business Information - Swift Glass Co., Inc in Elmira, NY
131 22nd St
Elmira, NY 14903
Glass Product Manufacturing Made of Purchased Glass
NAICS code 327215
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Elmira
In the Elmira area, 2 businesses in the "Glass Product Manufacturing Made of Purchased Glass" industry received a PPP loan. These local businesses reported an average of 52 employees (compared to this company's 99) and received an average PPP loan of $844,875 (compared to this company's $1.66M).
Similar Nearby Businesses Who Received PPP Funding:
Griffin Glass Tools, LLC
Industry PPP Comparison Statistics
Nationwide, 1,226 businesses in the "Glass Product Manufacturing Made of Purchased Glass" industry received a total of $226.41M 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 18 employees, 82% lower than Swift Glass Co., Inc's reported 99 employees, and received an average PPP loan of $184,672, 89% lower than this company's loan of $1.66M.
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Footnotes & Information
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