PPP Loan Data — U.s. Paint Corporation, Saint Louis, MO
U.s. Paint Corporation is a corporation located at 831 S 21st St in Saint Louis, Missouri that received a Coronavirus-related PPP loan from the SBA of $2,041,370.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bank of America, National Association
U.s. Paint Corporation in Saint Louis, MO received a Paycheck Protection Loan of $2.04M through Bank of America, National Association, which was approved in April, 2020.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 98. 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, U.s. Paint Corporation's 2019 payroll expenses are estimated to be at least $9.8M (not accounting for salary amounts > $100k).
Because the 93 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, U.s. Paint Corporation reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,041,370
Business Information - U.s. Paint Corporation in Saint Louis, MO
831 S 21st St
Saint Louis, MO 63103
Paint and Coating Manufacturing
NAICS code 325510
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Saint Louis
In the Saint Louis area, 3 businesses in the "Paint and Coating Manufacturing" industry received a PPP loan. These local businesses reported an average of 52 employees (compared to this company's 93) and received an average PPP loan of $934,023 (compared to this company's $2.04M).
Similar Nearby Businesses Who Received PPP Funding:
Eagle Specialty Products Inc
Saint Louis, MO
Saint Louis, MO
Industry PPP Comparison Statistics
Nationwide, 1,981 businesses in the "Paint and Coating Manufacturing" industry received a total of $355.48M 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 16 employees, 83% lower than U.s. Paint Corporation's reported 93 employees, and received an average PPP loan of $179,443, 91% lower than this company's loan of $2.04M.
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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