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PPP Loan Data — United Steel Inc.,
East Hartford, CT
United Steel Inc.
Entity: Sole Proprietorship
Industry: Structural Steel and Precast Concrete Contractors
Location: East Hartford, CT
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United Steel Inc. is a sole proprietorship located at 164 School Street in East Hartford, Connecticut that received a Coronavirus-related PPP loan from the SBA of $3,788,000.00 in April, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
189Loan Approved:
2020-04-05Lender:
PEOPLE'S UNITED BANK, NATIONAL ASSOCIATIONUnited Steel Inc. in East Hartford, CT received a Paycheck Protection Loan of $3.79M through PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, United Steel Inc.'s total 2019 payroll expenses were approximately $18.18M in order to qualify for the PPP loan amount received.
Based on their reported 189 jobs retained, this equals an estimated average yearly compensation of $96,203 per employee1.
Business Information - United Steel Inc. in East Hartford, CT
164 School Street
East Hartford, CT 6108
Business Industry
Structural Steel and Precast Concrete Contractors (NAICS code 238120)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: CT-01Industry PPP Comparison Statistics
Nationwide, 2,045 businesses in the "Structural Steel and Precast Concrete Contractors" industry received a total of $681,119,594.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.
PPP recipients in this industry report an average of 22 employees, 88% lower than United Steel Inc.'s reported 189 employees, and received an average PPP loan of $333,066, 91% lower than this company's loan of $3.79M.
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, and is published unmodified, as provided by the SBA.
Footnotes & Information
1. 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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