STRUCTURAL COMPONENT SYSTEMS INC
PPP Loan approved Apr 4, 2020 through American National Bank
Borrower Information
Business Details
Lender Information
Self-Reported Demographics
How Proceeds Were Used
| Category | Amount | % of Total Proceeds |
|---|---|---|
| Payroll | $4,644,700.00 | 100.0% |
About This Loan
STRUCTURAL COMPONENT SYSTEMS INC received a PPP loan of $4,644,700 approved on Apr 4, 2020. The loan was originated by American National Bank.
STRUCTURAL COMPONENT SYSTEMS INC is a subchapter s corporation located in FREMONT, Nebraska. At the time of the application, the business was described as "existing or more than 2 years old".
The business operates in the Manufacturing industry (NAICS 321214), part of the Manufacturing sector of the economy. The applicant reported 441 jobs as retained through this loan.
The SBA forgave $4,699,800.14 of this loan — 101.2% of the total approved amount, with forgiveness recorded on Jun 22, 2021. This means the borrower was not required to repay this portion, having satisfied the PPP's eligibility criteria for forgiveness, including maintaining payroll levels and using the funds for qualified expenses.
According to the SBA's records, the proceeds of this loan were allocated as follows: $4,644,700 to payroll. The payroll component represents 100.0% of disclosed proceeds, consistent with the program's requirement that at least 60% of loan funds be used for payroll costs to qualify for full forgiveness.
This loan is one of millions approved nationwide during the COVID-19 pandemic. To explore other recipients in Nebraska, visit the Nebraska page. To compare this loan with others in the same industry, see the Manufacturing industry page.