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PPP Loan Data — The Smith And Oby Holding Co,
Walton Hills, OH
The Smith And Oby Holding Co
Entity: Corporation
Industry: Plumbing, Heating, and Air-Conditioning Contractors
Location: Walton Hills, OH
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The Smith And Oby Holding Co is a corporation located at 7676 Northfield Rd 7676 Northfield Road in Walton Hills, Ohio that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in March, 2021.
$
PPP Loan Information
Loan #9596998605
Loan Size:
Jobs Retained:
191Loan Approved:
2021-03-26Loan Status:
Paid in Full or ForgivenLender:
PNC Bank, National AssociationThe Smith And Oby Holding Co in Walton Hills, OH received a Paycheck Protection Loan of $2M through PNC Bank, National Association, which was approved in March, 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 February, 2022.
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 Smith And Oby Holding Co's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 191 jobs retained, this equals an estimated average yearly compensation of $50,262 per employee1
Reported PPP Proceed Usage:
On the PPP application, The Smith And Oby Holding Co reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,995
- Utilities: $1
Business Information - The Smith And Oby Holding Co in Walton Hills, OH
7676 Northfield Rd 7676 Northfield Road
Walton Hills, OH 44146
Business Industry:
Plumbing, Heating, and Air-Conditioning Contractors
NAICS code 238220
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Walton Hills
In the Walton Hills area, 38 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a PPP loan. These local businesses reported an average of 26 employees (compared to this company's 191) and received an average PPP loan of $344,482 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
The Roberts Mechanical Equipment Company
Bedford, OH
Hofmann Corporation
Westlake, OH
AC Plumbing Heating And Mechanical Company, Inc
Bedford, OH
Eric Finch
Westlake, OH
Claad Mechanical LLC
Broadview Heights, OH
American Plumbing Inc
Westlake, OH
JSI Mechanical LLC
Broadview Heights, OH
S-T Acquisition Company, LLC
Bedford, OH
Dawnco, Incorporated
Bedford, OH
Industry PPP Comparison Statistics
Nationwide, 103,847 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a total of $13.03B 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 10 employees, 95% lower than The Smith And Oby Holding Co's reported 191 employees, and received an average PPP loan of $125,452, 94% lower than this company's loan of $2M.
The Smith And Oby Holding Co
Entity: Corporation
Industry: Plumbing, Heating, and Air-Conditioning Contractors
Location: Walton Hills, OH
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The Smith And Oby Holding Co is a corporation located at 7676 Northfield Rd in Walton Hills, Ohio that received a Coronavirus-related PPP loan from the SBA of $4,497,400.00 in April, 2020.
$
PPP Loan Information
Loan #9873297109
Loan Size:
Jobs Retained:
307Loan Approved:
2020-04-15Loan Status:
Paid in Full or ForgivenLender:
PNC Bank, National AssociationThe Smith And Oby Holding Co in Walton Hills, OH received a Paycheck Protection Loan of $4.5M through PNC Bank, National Association, 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
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 Smith And Oby Holding Co's 2019 payroll expenses are estimated to be at least $21.59M.
Based on their reported 307 jobs retained, this equals an estimated average yearly compensation of $70,318 per employee1
Reported PPP Proceed Usage:
On the PPP application, The Smith And Oby Holding Co reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $4,497,400
Business Information - The Smith And Oby Holding Co in Walton Hills, OH
7676 Northfield Rd
Walton Hills, OH 44146
Business Industry:
Plumbing, Heating, and Air-Conditioning Contractors
NAICS code 238220
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Walton Hills
In the Walton Hills area, 38 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a PPP loan. These local businesses reported an average of 26 employees (compared to this company's 307) and received an average PPP loan of $344,482 (compared to this company's $4.5M).
Similar Nearby Businesses Who Received PPP Funding:
The Roberts Mechanical Equipment Company
Bedford, OH
Hofmann Corporation
Westlake, OH
AC Plumbing Heating And Mechanical Company, Inc
Bedford, OH
Eric Finch
Westlake, OH
Claad Mechanical LLC
Broadview Heights, OH
American Plumbing Inc
Westlake, OH
JSI Mechanical LLC
Broadview Heights, OH
S-T Acquisition Company, LLC
Bedford, OH
Dawnco, Incorporated
Bedford, OH
Industry PPP Comparison Statistics
Nationwide, 103,847 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a total of $13.03B 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 10 employees, 97% lower than The Smith And Oby Holding Co's reported 307 employees, and received an average PPP loan of $125,452, 97% lower than this company's loan of $4.5M.
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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