PPP Loan Data — Vanair Manufacturing, Inc, Michigan City, IN
Vanair Manufacturing, Inc is a subchapter s corporation located at 10896 W 300 N 0.0 in Michigan City, Indiana that received a Coronavirus-related PPP loan from the SBA of $2,048,400.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:JPMorgan Chase Bank, National Association
Vanair Manufacturing, Inc in Michigan City, IN received a Paycheck Protection Loan of $2.05M through JPMorgan Chase Bank, National Association, 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, Vanair Manufacturing, Inc's 2019 payroll expenses are estimated to be at least $9.83M.
Based on their reported 174 jobs retained, this equals an estimated average yearly compensation of $56,508 per employee1
Reported PPP Proceed Usage:
On the PPP application, Vanair Manufacturing, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,713,742
- Utilities: $24,000
- Rent: $60,658
- Health Care: $250,000
Business Information - Vanair Manufacturing, Inc in Michigan City, IN
10896 W 300 N 0.0
Michigan City, IN 46360
Air and Gas Compressor Manufacturing
NAICS code 333912
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 392 businesses in the "Air and Gas Compressor Manufacturing" industry received a total of $114.38M 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 22 employees, 87% lower than Vanair Manufacturing, Inc's reported 174 employees, and received an average PPP loan of $291,784, 86% lower than this company's loan of $2.05M.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!