PPP Loan Data — Yetter Manufacturing Company Inc, Colchester, IL
Yetter Manufacturing Company Inc is a corporation located at 358 E South St in Colchester, Illinois that received a Coronavirus-related PPP loan from the SBA of $2,303,300.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:PNC Bank, National Association
Yetter Manufacturing Company Inc in Colchester, IL received a Paycheck Protection Loan of $2.3M through PNC 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, Yetter Manufacturing Company Inc's 2019 payroll expenses are estimated to be at least $11.06M.
Based on their reported 158 jobs retained, this equals an estimated average yearly compensation of $69,974 per employee1
Reported PPP Proceed Usage:
On the PPP application, Yetter Manufacturing Company Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,303,300
Business Information - Yetter Manufacturing Company Inc in Colchester, IL
358 E South St
Colchester, IL 62326
Farm Machinery and Equipment Manufacturing
NAICS code 333111
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, 1,679 businesses in the "Farm Machinery and Equipment Manufacturing" industry received a total of $396M 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 21 employees, 87% lower than Yetter Manufacturing Company Inc's reported 158 employees, and received an average PPP loan of $235,854, 90% lower than this company's loan of $2.3M.
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Footnotes & Information
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