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PPP Loan Data — The Dearing Compressor And Pump Company,
Youngstown, OH
The Dearing Compressor And Pump Company
Entity: Corporation
Industry: Air and Gas Compressor Manufacturing
Location: Youngstown, OH
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The Dearing Compressor And Pump Company is a corporation located at 3974 Simon Rd in Youngstown, Ohio that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in January, 2021.
The company has reported itself as a White female owned business, and employed at least 199 people during the applicable loan loan period.
$
PPP Loan Information
Loan #4768688306
Loan Size:
Jobs Retained:
199Loan Approved:
2021-01-23Loan Status:
Paid in Full or ForgivenLender:
First National Bank of PennsylvaniaThe Dearing Compressor And Pump Company in Youngstown, OH received a Paycheck Protection Loan of $2M through First National Bank of Pennsylvania, which was approved in January, 2021.
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 September, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, The Dearing Compressor And Pump Company's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 199 jobs retained, this equals an estimated average yearly compensation of $48,241 per employee1
Reported PPP Proceed Usage:
On the PPP application, The Dearing Compressor And Pump Company reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,000,000
Business Information - The Dearing Compressor And Pump Company in Youngstown, OH
3974 Simon Rd
Youngstown, OH 44512
Business Industry:
Air and Gas Compressor Manufacturing
NAICS code 333912
Business Owner Demographics
Race: White
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 390 businesses in the "Air and Gas Compressor Manufacturing" industry received a total of $114.02M 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 22 employees, 89% lower than The Dearing Compressor And Pump Company's reported 199 employees, and received an average PPP loan of $292,351, 85% lower than this company's loan of $2M.
The Dearing Compressor And Pump Company
Entity: Corporation
Industry: Air and Gas Compressor Manufacturing
Location: Youngstown, OH
Tweet This
•
Search All PPP Data
The Dearing Compressor And Pump Company is a corporation located at 3974 Simon Rd in Youngstown, Ohio that received a Coronavirus-related PPP loan from the SBA of $3,800,900.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 226 people during the applicable loan loan period.
$
PPP Loan Information
Loan #7937867006
Loan Size:
Jobs Retained:
226Loan Approved:
2020-04-08Loan Status:
Paid in Full or ForgivenLender:
First National Bank of PennsylvaniaThe Dearing Compressor And Pump Company in Youngstown, OH received a Paycheck Protection Loan of $3.8M through First National Bank of Pennsylvania, 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 June, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, The Dearing Compressor And Pump Company's 2019 payroll expenses are estimated to be at least $18.24M.
Based on their reported 226 jobs retained, this equals an estimated average yearly compensation of $80,727 per employee1
Reported PPP Proceed Usage:
On the PPP application, The Dearing Compressor And Pump Company reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $3,800,900
Business Information - The Dearing Compressor And Pump Company in Youngstown, OH
3974 Simon Rd
Youngstown, OH 44512
Business Industry:
Air and Gas Compressor Manufacturing
NAICS code 333912
Business Owner Demographics
Race: White
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 390 businesses in the "Air and Gas Compressor Manufacturing" industry received a total of $114.02M 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 22 employees, 90% lower than The Dearing Compressor And Pump Company's reported 226 employees, and received an average PPP loan of $292,351, 92% lower than this company's loan of $3.8M.
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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
Footnotes & Information
1. Estimations for informational purposes only. 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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