PPP Loan Data — Malco Products, Inc, Barberton, OH
Malco Products, Inc is a subchapter s corporation located at 361 Fairview Avenue in Barberton, Ohio that received a Coronavirus-related PPP loan from the SBA of $2,912,580.00 in April, 2020.
$ PPP Loan Information
Lender:JPMORGAN CHASE BANK, NATIONAL ASSOCIATION
Malco Products, Inc received a Paycheck Protection Loan of $2.91M through JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Malco Products, Inc's total 2019 payroll expenses were approximately $13.98M in order to qualify for the PPP loan amount received.
Based on their reported 240 jobs retained, this equals an estimated average yearly compensation of $58,252 per employee1.
Business Information - Malco Products, Inc in Barberton, OH
361 Fairview Avenue
Barberton, OH 44203
Polish and Other Sanitation Good Manufacturing (NAICS code 325612)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: OH-13
Similar Companies near Barberton
In the Barberton area, 2 businesses in the "Polish and Other Sanitation Good Manufacturing" industry received a PPP loan. These local businesses reported an average of 124 employees (compared to this company's 240) and received an average PPP loan of $1,521,844 (compared to this company's $2.91M).
Similar Nearby Businesses Who Received PPP Funding:
Malco Products Of Ohio, Inc.
Industry PPP Comparison Statistics
Nationwide, 413 businesses in the "Polish and Other Sanitation Good Manufacturing" industry received a total of $79,821,777.00 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 16 employees, 93% lower than Malco Products, Inc's reported 240 employees, and received an average PPP loan of $193,273, 93% lower than this company's loan of $2.91M.
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.
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