PPP Loan Data — The Schroer Group Inc, North Canton, OH
The Schroer Group Inc
Entity: Subchapter S Corporation
Location: North Canton, OHTweet This • Search All PPP Data
The Schroer Group Inc is a subchapter s corporation located at 7171 Keck Park Circle Nw in North Canton, Ohio that received a Coronavirus-related PPP loan from the SBA of $10,000,000.00 in April, 2020.
$ PPP Loan Information
Lender:PNC BANK, NATIONAL ASSOCIATION
The Schroer Group Inc received a Paycheck Protection Loan of $10M through PNC BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, The Schroer Group Inc's total 2019 payroll expenses were approximately $48M in order to qualify for the PPP loan amount received.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $96,000 per employee1.
Business Information - The Schroer Group Inc in North Canton, OH
7171 Keck Park Circle Nw
North Canton, OH 44720
Nursing Care Facilities (Skilled Nursing Facilities) (NAICS code 623110)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: OH-16
Similar Companies near North Canton
In the North Canton area, 4 businesses in the "Nursing Care Facilities (Skilled Nursing Facilities)" industry received a PPP loan. These local businesses reported an average of 169 employees (compared to this company's 500) and received an average PPP loan of $3,321,827 (compared to this company's $10M).
Similar Nearby Businesses Who Received PPP Funding:
Windsor Medical Center, Inc.
North Canton, OH
Brunswick Senior Living LLC
North Canton, OH
St Luke Lutheran Home For The Aging
North Canton, OH
Industry PPP Comparison Statistics
Nationwide, 9,872 businesses in the "Nursing Care Facilities (Skilled Nursing Facilities)" industry received a total of $5,508,018,433.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 66 employees, 87% lower than The Schroer Group Inc's reported 500 employees, and received an average PPP loan of $557,944, 94% lower than this company's loan of $10M.
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.
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.
Have FederalPay.org's open data tools been valuable? Consider donating!