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PPP Loan Data — Ware Industries Inc, South Plainfield, NJ

SBA PPP loan data, payroll data, and salaries for Ware Industries Inc
NJ

Ware Industries Inc

Entity: Corporation

Industry: Rolled Steel Shape Manufacturing

Location: South Plainfield, NJ

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Ware Industries Inc is a corporation located at 400 Metuchen Road in South Plainfield, New Jersey that received a Coronavirus-related PPP loan from the SBA of $6,953,100.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$6.95M

Jobs Retained:

0 Unreported

Loan Approved:

2020-04-14

Lender:

PNC BANK, NATIONAL ASSOCIATION

Ware Industries Inc received a Paycheck Protection Loan of $6.95M through PNC BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Ware Industries Inc's total 2019 payroll expenses were approximately $33.37M in order to qualify for the PPP loan amount received.

Unlike most businesses, Ware Industries Inc's PPP data does not report the number of jobs retained by their receipt of the Paycheck Protection Loan (some banks did not release this infomation from their loan applications). Without this data, per-employee payrolls for this company cannot be estimated.

Because the loan received by Ware Industries Inc is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Ware Industries Inc in South Plainfield, NJ

Ware Industries Inc
400 Metuchen Road
South Plainfield, NJ 7080

Business Industry

Rolled Steel Shape Manufacturing (NAICS code 331221)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: NJ-06

Industry PPP Comparison Statistics

Nationwide, 365 businesses in the "Rolled Steel Shape Manufacturing" industry received a total of $157,376,636.00 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 27 employees, and received an average PPP loan of $431,169, 94% lower than this company's loan of $6.95M.

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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA.

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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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/ware-industries-inc-south-plainfield-nj