PPP Loan Data — Harmac Medical Products, Buffalo, NY
Harmac Medical Products is a subchapter s corporation located at 2201 Bailey Avenue in Buffalo, New York that received a Coronavirus-related PPP loan from the SBA of $3,850,300.00 in April, 2020.
$ PPP Loan Information
Lender:MANUFACTURERS AND TRADERS TRUST COMPANY
Harmac Medical Products received a Paycheck Protection Loan of $3.85M through MANUFACTURERS AND TRADERS TRUST COMPANY, which was approved in April, 2020.
Based on standard PPP eligibility rules, Harmac Medical Products' total 2019 payroll expenses were approximately $18.48M in order to qualify for the PPP loan amount received.
Based on their reported 397 jobs retained, this equals an estimated average yearly compensation of $46,553 per employee1.
Business Information - Harmac Medical Products in Buffalo, NY
2201 Bailey Avenue
Buffalo, NY 14211
Surgical and Medical Instrument Manufacturing (NAICS code 339112)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: NY-26
Industry PPP Comparison Statistics
Nationwide, 2,193 businesses in the "Surgical and Medical Instrument Manufacturing" industry received a total of $649,163,907.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.
PPP recipients in this industry report an average of 18 employees, 95% lower than Harmac Medical Products' reported 397 employees, and received an average PPP loan of $296,016, 92% lower than this company's loan of $3.85M.
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.
Footnotes & Information
1. 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.
Have FederalPay.org's open data tools been valuable? Consider donating!