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PPP Loan Data — 2MC Management, LLC, Cincinnati, OH

SBA PPP loan data, payroll data, and salaries for 2MC Management, LLC
OH

2MC Management, LLC

Entity: Limited Liability Company (LLC)

Industry: Electronic Shopping and Mail-Order Houses

Location: Cincinnati, OH

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2MC Management, LLC is a limited liability company (LLC) located at 7660 School Rd 0.0 in Cincinnati, Ohio that received a Coronavirus-related PPP loan from the SBA of $2,198,132.00 in April, 2020.

The company has reported itself as a male owned business, and employed at least 312 people during the applicable loan loan period.

$ PPP Loan Information
Loan #9588327008

Loan Size:

$2.2M

Jobs Retained:

312

Loan Approved:

2020-04-09

Loan Status:

Ongoing Loan

Lender:

JPMorgan Chase Bank, National Association

2MC Management, LLC in Cincinnati, OH received a Paycheck Protection Loan of $2.2M through JPMorgan Chase Bank, National Association, which was approved in April, 2020.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, 2MC Management, LLC's 2019 payroll expenses are estimated to be at least $10.55M.

Based on their reported 312 jobs retained, this equals an estimated average yearly compensation of $33,817 per employee1

Reported PPP Proceed Usage:

On the PPP application, 2MC Management, LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,775,170
  • Utilities: $70,020
  • Rent: $297,376
  • Health Care: $24,654
  • Debt Interest: $30,912
Because the loan received by 2MC Management, LLC 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 - 2MC Management, LLC in Cincinnati, OH

2MC Management, LLC
7660 School Rd 0.0
Cincinnati, OH 45249

Business Industry:
Electronic Shopping and Mail-Order Houses
NAICS code 454110

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Hamilton County, OH — SBA Office 0593 — Congressional District: OH-01

Similar Companies near Cincinnati

In the Cincinnati area, 2 businesses in the "Electronic Shopping and Mail-Order Houses" industry received a PPP loan. These local businesses reported an average of 157 employees (compared to this company's 312) and received an average PPP loan of $1,107,366 (compared to this company's $2.2M).

Similar Nearby Businesses Who Received PPP Funding:

JRJ Enterprise, LLC
Cincinnati, OH

$16,600 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 15,801 businesses in the "Electronic Shopping and Mail-Order Houses" industry received a total of $824.29M 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 5 employees, 98% lower than 2MC Management, LLC's reported 312 employees, and received an average PPP loan of $52,167, 98% lower than this company's loan of $2.2M.

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. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

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Footnotes & Information

1. Estimations for informational purposes only. 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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Source: www.federalpay.org/paycheck-protection-program/2mc-management-llc-cincinnati-oh