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PPP Loan Data — Macados Inc, Roanoke, VA

SBA PPP loan data, payroll data, and salaries for Macados Inc
VA

Macados Inc

Entity: Subchapter S Corporation

Industry: Full-Service Restaurants

Location: Roanoke, VA

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Macados Inc is a subchapter s corporation located at 120 Church Ave Sw Ste B in Roanoke, Virginia that received a Coronavirus-related PPP loan from the SBA of $3,017,250.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.02M

Jobs Retained:

500

Loan Approved:

2020-04-13

Lender:

ATLANTIC UNION BANK

Macados Inc in Roanoke, VA received a Paycheck Protection Loan of $3.02M through ATLANTIC UNION BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Macados Inc's total 2019 payroll expenses were approximately $14.48M in order to qualify for the PPP loan amount received.

Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $28,966 per employee1.

Because the loan received by Macados 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 - Macados Inc in Roanoke, VA

Macados Inc
120 Church Ave Sw Ste B
Roanoke, VA 24008

Business Industry

Full-Service Restaurants (NAICS code 722511)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: VA-06

Similar Companies near Roanoke

In the Roanoke area, 5 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 100 employees (compared to this company's 500) and received an average PPP loan of $730,170 (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, 96% lower than Macados Inc's reported 500 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.

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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/macados-inc-roanoke-va