PPP Loan Data — The Harrison Steel Castings Company, Attica, IN
The Harrison Steel Castings Company is a limited liability company (LLC) located at 900 Mound St in Attica, Indiana that received a Coronavirus-related PPP loan from the SBA of $5,012,000.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 417 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:1st Source Bank
The Harrison Steel Castings Company in Attica, IN received a Paycheck Protection Loan of $5.01M through 1st Source 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 July, 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, The Harrison Steel Castings Company's 2019 payroll expenses are estimated to be at least $24.06M.
Based on their reported 417 jobs retained, this equals an estimated average yearly compensation of $57,692 per employee1
Reported PPP Proceed Usage:
On the PPP application, The Harrison Steel Castings Company reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $5,012,000
Business Information - The Harrison Steel Castings Company in Attica, IN
900 Mound St
Attica, IN 47918
Steel Foundries (except Investment)
NAICS code 331513
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 209 businesses in the "Steel Foundries (except Investment)" industry received a total of $109.39M 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 41 employees, 90% lower than The Harrison Steel Castings Company's reported 417 employees, and received an average PPP loan of $523,410, 90% lower than this company's loan of $5.01M.
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Footnotes & Information
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