PPP Loan Data — United Grinding North America, Inc, Miamisburg, OH
United Grinding North America, Inc
Entity: Not Reported
Location: Miamisburg, OHTweet This • Search All PPP Data
United Grinding North America, Inc is a located at 2100 United Grinding Boulevard in Miamisburg, Ohio that received a Coronavirus-related PPP loan from the SBA of $3,551,200.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Fifth Third Bank
United Grinding North America, Inc in Miamisburg, OH received a Paycheck Protection Loan of $3.55M through Fifth Third Bank, which was approved in May, 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.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 167 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.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 170. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
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 Grinding North America, Inc's 2019 payroll expenses are estimated to be at least $17.05M (not accounting for salary amounts > $100k).
Because the 167 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Reported PPP Proceed Usage:
On the PPP application, United Grinding North America, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $3,551,200
Business Information - United Grinding North America, Inc in Miamisburg, OH
2100 United Grinding Boulevard
Miamisburg, OH 45342
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: Urban
Similar Companies near Miamisburg
In the Miamisburg area, 10 businesses in the "Industrial Machinery and Equipment Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 27 employees (compared to this company's 167) and received an average PPP loan of $496,819 (compared to this company's $3.55M).
Similar Nearby Businesses Who Received PPP Funding:
Arlt And Cope Inc
Machine Tools Of America LLC
Mosier Fluid Power Of Ohio Inc
Diversified Technical Solutions LLC
Advanced Industrial Measurement Systems
Industry PPP Comparison Statistics
Nationwide, 11,033 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, 91% lower than United Grinding North America, Inc's reported 167 employees, and received an average PPP loan of $203,255, 94% lower than this company's loan of $3.55M.
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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