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PPP Loan Data — M&S Group Inc, El Paso, TX

SBA PPP loan data, payroll data, and salaries for M&S Group Inc
TX

M&S Group Inc

Entity: Corporation

Industry: Full-Service Restaurants

Location: El Paso, TX

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M&S Group Inc is a corporation located at 2021 E. Yandell Dr in El Paso, Texas that received a Coronavirus-related PPP loan from the SBA of $3,023,515.00 in April, 2020.

The company has reported itself as a Hispanic owned business, and employed at least 250 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$3.02M

Jobs Retained:

250

Loan Approved:

2020-04-04

Lender:

WESTSTAR BANK

M&S Group Inc in El Paso, TX received a Paycheck Protection Loan of $3.02M through WESTSTAR BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, M&S Group Inc's total 2019 payroll expenses were approximately $14.51M in order to qualify for the PPP loan amount received.

Based on their reported 250 jobs retained, this equals an estimated average yearly compensation of $58,051 per employee1.

Because the loan received by M&S Group Inc 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 - M&S Group Inc in El Paso, TX

M&S Group Inc
2021 E. Yandell Dr
El Paso, TX 79903

Business Industry

Full-Service Restaurants (NAICS code 722511)

Business Owner Demographics

Race / Ethnicity: HISPANIC

Gender: Unreported

Veteran Status: Unreported

Congressional District: TX-16

Similar Companies near El Paso

In the El Paso area, 45 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 26 employees (compared to this company's 250) and received an average PPP loan of $291,441 (compared to this company's $3.02M).

Industry PPP Comparison Statistics

Nationwide, 175,054 businesses in the "Full-Service Restaurants" industry received a total of $20,426,260,320.00 in PPP loans. These businesses account for 3% of total PPP applications submitted, and received 4% of the total PPP funding allocated.

PPP recipients in this industry report an average of 20 employees, 92% lower than M&S Group Inc's reported 250 employees, and received an average PPP loan of $116,685, 96% lower than this company's loan of $3.02M.

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, and is published unmodified, as provided by the SBA.

Search FederalPay's Full PPP Loan Database

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.


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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/m-and-s-group-inc-el-paso-tx