PPP Loan Data — Genric Inc, Marysville, OH
Location: Marysville, OHTweet This • Search All PPP Data
Genric Inc is a corporation located at 433 Allenby Drive in Marysville, Ohio that received a Coronavirus-related PPP loan from the SBA of $2,012,500.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:JPMorgan Chase Bank, National Association
Genric Inc in Marysville, OH received a Paycheck Protection Loan of $2.01M 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
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, Genric Inc's 2019 payroll expenses are estimated to be at least $9.66M.
Based on their reported 384 jobs retained, this equals an estimated average yearly compensation of $25,156 per employee1
Reported PPP Proceed Usage:
On the PPP application, Genric Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,822,500
- Health Care: $190,000
Business Information - Genric Inc in Marysville, OH
433 Allenby Drive
Marysville, OH 43040
Other Scientific and Technical Consulting Services
NAICS code 541690
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 28,306 businesses in the "Other Scientific and Technical Consulting Services" industry received a total of $2.1B 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 6 employees, 98% lower than Genric Inc's reported 384 employees, and received an average PPP loan of $74,096, 96% lower than this company's loan of $2.01M.
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Footnotes & Information
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