Taylor Metal Inc in Salem, OR - SBA PPP Loan Data (Paycheck Protection Program)

PPP Loan Data — Taylor Metal Inc, Salem, OR

Taylor Metal Inc

Entity: Not Reported

Industry: Overhead Traveling Crane, Hoist, and Monorail System Manufacturing

Location: Salem, OR

Taylor Metal Inc is a located at 4566 Ridge Dr Ne in Salem, Oregon that received a Coronavirus-related PPP loan from the SBA of $2,555,200.00 in May, 2020.

$ PPP Loan Information

Loan Size:

$2.56M

Jobs Retained:

247

Loan Approved:

2020-05-01

Lender:

FIFTH THIRD BANK

Taylor Metal Inc in Salem, OR received a Paycheck Protection Loan of $2.56M through FIFTH THIRD BANK, which was approved in May, 2020.

Based on standard PPP eligibility rules, Taylor Metal Inc's total 2019 payroll expenses were approximately $12.26M in order to qualify for the PPP loan amount received.

Based on their reported 247 jobs retained, this equals an estimated average yearly compensation of $49,656 per employee¹.

Because the loan received by Taylor Metal Inc is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Taylor Metal Inc in Salem, OR

Taylor Metal Inc
4566 Ridge Dr Ne
Salem, OR 97301

Business Industry

Overhead Traveling Crane, Hoist, and Monorail System Manufacturing (NAICS code 333923)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: OR-05

Industry PPP Comparison Statistics

Nationwide, 309 businesses in the "Overhead Traveling Crane, Hoist, and Monorail System Manufacturing" industry received a total of $124,855,845.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 24 employees, 90% lower than Taylor Metal Inc's reported 247 employees, and received an average PPP loan of $404,064, 84% lower than this company's loan of $2.56M.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan. All information displayed on this page is publicly available information under PPP loan guidelines, and is published unmodified, as provided by the SBA.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.

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