PPP Loan Data — Tranco Industrial Services Inc, Burns Harbor, IN
Tranco Industrial Services Inc is a subchapter s corporation located at 355 Shadyside Rd in Burns Harbor, Indiana that received a Coronavirus-related PPP loan from the SBA of $2,447,900.00 in April, 2020.
$ PPP Loan Information
Lender:PNC BANK, NATIONAL ASSOCIATION
Tranco Industrial Services Inc in Burns Harbor, IN received a Paycheck Protection Loan of $2.45M through PNC BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 80 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.
2019 Payroll Estimations based On PPP Amount:
Assuming all employees were paid over the $100k eligibility cap, the minimum number of employees this company must have had in 2019 to qualify for the loan range received is 117.
Based on standard PPP eligibility rules, Tranco Industrial Services Inc's total 2019 payroll expenses were approximately $11.75M (not accounting for salary amounts > $100k) in order to qualify for the PPP loan amount received.
Because the 80 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Business Information - Tranco Industrial Services Inc in Burns Harbor, IN
355 Shadyside Rd
Burns Harbor, IN 46304
All Other Specialty Trade Contractors (NAICS code 238990)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: IN-01
Similar Companies near Burns Harbor
In the Burns Harbor area, 7 businesses in the "All Other Specialty Trade Contractors" industry received a PPP loan. These local businesses reported an average of 18 employees (compared to this company's 80) and received an average PPP loan of $463,766 (compared to this company's $2.45M).
Similar Nearby Businesses Who Received PPP Funding:
Mcallister General Contractor, Inc
Cedar Lake, IN
Michael C Campaniello
FFC Fencing Co.
Cedar Lake, IN
Great Lakes Contracting & Materials, LLC
Nutter Installations Inc.
Cedar Lake, IN
State Line Fire Systems, Inc.
Industry PPP Comparison Statistics
Nationwide, 44,474 businesses in the "All Other Specialty Trade Contractors" industry received a total of $5,068,221,395.00 in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 9 employees, 89% lower than Tranco Industrial Services Inc's reported 80 employees, and received an average PPP loan of $113,959, 95% lower than this company's loan of $2.45M.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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