PPP Loan Data — Thomas Plastic Machinery, Inc, Scottsburg, IN
Thomas Plastic Machinery, Inc
Entity: Sole Proprietorship
Location: Scottsburg, INTweet This • Search All PPP Data
Thomas Plastic Machinery, Inc is a sole proprietorship located at 445 N 3rd St in Scottsburg, Indiana that received a Coronavirus-related PPP loan from the SBA of $1,780,446.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:WesBanco Bank, Inc.
Thomas Plastic Machinery, Inc in Scottsburg, IN received a Paycheck Protection Loan of $1.78M through WesBanco Bank, Inc., which was approved in April, 2020.
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, Thomas Plastic Machinery, Inc's 2019 payroll expenses are estimated to be at least $8.55M.
Based on their reported 121 jobs retained, this equals an estimated average yearly compensation of $70,629 per employee1
Reported PPP Proceed Usage:
On the PPP application, Thomas Plastic Machinery, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,780,446
Business Information - Thomas Plastic Machinery, Inc in Scottsburg, IN
445 N 3rd St
Scottsburg, IN 47170
Industrial Machinery and Equipment Merchant Wholesalers
NAICS code 423830
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Scottsburg
In the Scottsburg area, 3 businesses in the "Industrial Machinery and Equipment Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 43 employees (compared to this company's 121) and received an average PPP loan of $608,228 (compared to this company's $1.78M).
Similar Nearby Businesses Who Received PPP Funding:
Hawkins Industrial Truck Inc
Industry PPP Comparison Statistics
Nationwide, 11,076 businesses in the "Industrial Machinery and Equipment Merchant Wholesalers" industry received a total of $2.24B 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 15 employees, 88% lower than Thomas Plastic Machinery, Inc's reported 121 employees, and received an average PPP loan of $202,534, 89% lower than this company's loan of $1.78M.
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Footnotes & Information
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