PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — M And B Group Inc, Clarion, PA

ALERT: There are 2 PPP loans for a total of $2.85M in our database for businesses with the name "M And B Group Inc" in Clarion, PA. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for M And B Group Inc
PA

M And B Group Inc

Entity: Corporation

Industry: Other Heavy and Civil Engineering Construction

Location: Clarion, PA

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M And B Group Inc is a corporation located at 15303 Route 322 in Clarion, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $1,331,351.00 in February, 2021.

The company has reported itself as a White male owned business, and employed at least 101 people during the applicable loan loan period.

$ PPP Loan Information
Loan #8083348402

Loan Size:

$1.33M

Jobs Retained:

101

Loan Approved:

2021-02-12

Loan Status:

Ongoing Loan

Lender:

Northwest Bank

M And B Group Inc in Clarion, PA received a Paycheck Protection Loan of $1.33M through Northwest Bank, which was approved in February, 2021.

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, M And B Group Inc's 2019 payroll expenses are estimated to be at least $6.39M.

Based on their reported 101 jobs retained, this equals an estimated average yearly compensation of $63,272 per employee1

Reported PPP Proceed Usage:

On the PPP application, M And B Group Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,331,349
  • Utilities: $1

Business Information - M And B Group Inc in Clarion, PA

M And B Group Inc
15303 Route 322
Clarion, PA 16214

Business Industry:
Other Heavy and Civil Engineering Construction
NAICS code 237990

Business Owner Demographics

Race: White

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: Y

Rural / Urban: Rural

Clarion County, PA — SBA Office 0358 — Congressional District: PA-15

Similar Companies near Clarion

In the Clarion area, 2 businesses in the "Other Heavy and Civil Engineering Construction" industry received a PPP loan. These local businesses reported an average of 64 employees (compared to this company's 101) and received an average PPP loan of $869,500 (compared to this company's $1.33M).

Similar Nearby Businesses Who Received PPP Funding:

Terra Works Inc
Clarion, PA

$407,649 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 11,233 businesses in the "Other Heavy and Civil Engineering Construction" industry received a total of $2.63B 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 17 employees, 83% lower than M And B Group Inc's reported 101 employees, and received an average PPP loan of $234,414, 82% lower than this company's loan of $1.33M.

SBA PPP loan data, payroll data, and salaries for M And B Group, Inc
PA

M And B Group, Inc

Entity: Corporation

Industry: Poured Concrete Foundation and Structure Contractors

Location: Clarion, PA

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M And B Group, Inc is a corporation located at 15303 Route 322 in Clarion, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $1,523,573.00 in April, 2020.

The company has reported itself as a male owned business, and employed at least 103 people during the applicable loan loan period.

$ PPP Loan Information
Loan #2610807310

Loan Size:

$1.52M

Jobs Retained:

103

Loan Approved:

2020-04-29

Loan Status:

Paid in Full or Forgiven

Lender:

Northwest Bank

M And B Group, Inc in Clarion, PA received a Paycheck Protection Loan of $1.52M through Northwest Bank, which was approved in April, 2020.

This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in March, 2021.

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, M And B Group, Inc's 2019 payroll expenses are estimated to be at least $7.31M.

Based on their reported 103 jobs retained, this equals an estimated average yearly compensation of $71,001 per employee1

Reported PPP Proceed Usage:

On the PPP application, M And B Group, Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,523,573

Business Information - M And B Group, Inc in Clarion, PA

M And B Group, Inc
15303 Route 322
Clarion, PA 16214

Business Industry:
Poured Concrete Foundation and Structure Contractors
NAICS code 238110

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: Y

Rural / Urban: Rural

Clarion County, PA — SBA Office 0358 — Congressional District: PA-15

Industry PPP Comparison Statistics

Nationwide, 21,801 businesses in the "Poured Concrete Foundation and Structure Contractors" industry received a total of $3.02B 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 13 employees, 87% lower than M And B Group, Inc's reported 103 employees, and received an average PPP loan of $138,620, 91% lower than this company's loan of $1.52M.

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.

Search FederalPay's Full PPP Loan Database

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/m-and-b-group-inc-clarion-pa