PPP Loan Data — Tamco Metal Finishing Inc, Reidsville, NC
Tamco Metal Finishing Inc
Entity: Subchapter S Corporation
Industry: Metal Coating, Engraving (except Jewelry and Silverware), and Allied Services to Manufacturers
Location: Reidsville, NCTweet This • Search All PPP Data
Tamco Metal Finishing Inc is a subchapter s corporation located at 639 Tamco Rd in Reidsville, North Carolina that received a Coronavirus-related PPP loan from the SBA of $25,479.00 in June, 2020.
The company has reported itself as a male owned business, and employed at least three people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:First National Bank of Pennsylvania
Tamco Metal Finishing Inc in Reidsville, NC received a Paycheck Protection Loan of $25,479 through First National Bank of Pennsylvania, which was approved in June, 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, Tamco Metal Finishing Inc's 2019 payroll expenses are estimated to be at least $122,299.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,766 per employee1
Reported PPP Proceed Usage:
On the PPP application, Tamco Metal Finishing Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,479
Business Information - Tamco Metal Finishing Inc in Reidsville, NC
639 Tamco Rd
Reidsville, NC 27320
Metal Coating, Engraving (except Jewelry and Silverware), and Allied Services to Manufacturers
NAICS code 332812
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 2,572 businesses in the "Metal Coating, Engraving (except Jewelry and Silverware), and Allied Services to Manufacturers" industry received a total of $431.73M 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 17 employees, 467% higher than Tamco Metal Finishing Inc's reported 3 employees, and received an average PPP loan of $167,859, 559% higher than this company's loan of $25,479.
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