PPP Loan Data — United Gear & Assembly, Inc, Hudson, WI
United Gear & Assembly, Inc is a corporation located at 1700 Livingstone Rd in Hudson, Wisconsin that received a Coronavirus-related PPP loan from the SBA of $2,172,290.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 140 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:The Huntington National Bank
United Gear & Assembly, Inc in Hudson, WI received a Paycheck Protection Loan of $2.17M through The Huntington National Bank, 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, United Gear & Assembly, Inc's 2019 payroll expenses are estimated to be at least $10.43M.
Based on their reported 140 jobs retained, this equals an estimated average yearly compensation of $74,479 per employee1
Reported PPP Proceed Usage:
On the PPP application, United Gear & Assembly, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,172,290
Business Information - United Gear & Assembly, Inc in Hudson, WI
1700 Livingstone Rd
Hudson, WI 54016
Fabricated Structural Metal Manufacturing
NAICS code 332312
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 5,157 businesses in the "Fabricated Structural Metal Manufacturing" industry received a total of $1.41B 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 24 employees, 83% lower than United Gear & Assembly, Inc's reported 140 employees, and received an average PPP loan of $273,385, 87% lower than this company's loan of $2.17M.
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Footnotes & Information
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