PPP Loan Data — MAG Instrument Incorporated, Ontario, CA
MAG Instrument Incorporated is a corporation located at 2001 South Hellman Avenue in Ontario, California that received a Coronavirus-related PPP loan from the SBA of $3,022,822.00 in May, 2020.
$ PPP Loan Information
Jobs Retained:0 Unreported
Lender:WELLS FARGO BANK, NATIONAL ASSOCIATION
MAG Instrument Incorporated in Ontario, CA received a Paycheck Protection Loan of $3.02M through WELLS FARGO BANK, NATIONAL ASSOCIATION, which was approved in May, 2020.
Based on standard PPP eligibility rules, MAG Instrument Incorporated's total 2019 payroll expenses were approximately $14.51M in order to qualify for the PPP loan amount received.
Unlike most businesses, MAG Instrument Incorporated's PPP data does not report the number of jobs retained by their receipt of the Paycheck Protection Loan (some banks did not release this infomation from their loan applications). Without this data, per-employee payrolls for this company cannot be estimated.
Business Information - MAG Instrument Incorporated in Ontario, CA
2001 South Hellman Avenue
Ontario, CA 91761
Other Lighting Equipment Manufacturing (NAICS code 335129)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: CA-35
Industry PPP Comparison Statistics
Nationwide, 481 businesses in the "Other Lighting Equipment Manufacturing" industry received a total of $90,730,877.00 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 14 employees, and received an average PPP loan of $188,630, 94% lower than this company's loan of $3.02M.
FederalPay's PPP Information Policy
Footnotes & Information
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