THE BELDEN BRICK COMPANY LLC
PPP Loan approved Apr 14, 2020 through JPMorgan Chase Bank, National Association
Borrower Information
Business Details
Lender Information
Self-Reported Demographics
How Proceeds Were Used
| Category | Amount | % of Total Proceeds |
|---|---|---|
| Payroll | $3,899,999.00 | 73.1% |
| Utilities | $600,000.00 | 11.2% |
| Health Care | $837,763.00 | 15.7% |
About This Loan
THE BELDEN BRICK COMPANY LLC received a PPP loan of $5,367,762 approved on Apr 14, 2020. The loan was originated by JPMorgan Chase Bank, National Association.
THE BELDEN BRICK COMPANY LLC is a limited liability company(llc) located in CANTON, Ohio. 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 327120), part of the Manufacturing sector of the economy. The applicant reported 500 jobs as retained through this loan.
The SBA forgave $5,437,754.63 of this loan — 101.3% of the total approved amount, with forgiveness recorded on Aug 9, 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: $3,899,999 to payroll, $600,000 to utilities, $837,763 to health care costs. The payroll component represents 73.1% 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 Ohio, visit the Ohio page. To compare this loan with others in the same industry, see the Manufacturing industry page.