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PPP Loan Data — Manitex International, Inc., Bridgeview, IL

SBA PPP loan data, payroll data, and salaries for Manitex International, Inc.
IL

Manitex International, Inc.

Entity: Corporation

Industry: Industrial Truck, Tractor, Trailer, and Stacker Machinery Manufacturing

Location: Bridgeview, IL

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Manitex International, Inc. is a corporation located at 9725 Industrial Dr in Bridgeview, Illinois that received a Coronavirus-related PPP loan from the SBA of $3,747,000.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.75M

Jobs Retained:

241

Loan Approved:

2020-04-08

Lender:

CIBC BANK USA

Manitex International, Inc. in Bridgeview, IL received a Paycheck Protection Loan of $3.75M through CIBC BANK USA, which was approved in April, 2020.

Based on standard PPP eligibility rules, Manitex International, Inc.'s total 2019 payroll expenses were approximately $17.99M in order to qualify for the PPP loan amount received.

Based on their reported 241 jobs retained, this equals an estimated average yearly compensation of $74,629 per employee1.

Because the loan received by Manitex International, 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 - Manitex International, Inc. in Bridgeview, IL

Manitex International, Inc.
9725 Industrial Dr
Bridgeview, IL 60455

Business Industry

Industrial Truck, Tractor, Trailer, and Stacker Machinery Manufacturing (NAICS code 333924)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: IL-03

Similar Companies near Bridgeview

In the Bridgeview area, 2 businesses in the "Industrial Truck, Tractor, Trailer, and Stacker Machinery Manufacturing" industry received a PPP loan. These local businesses reported an average of 121 employees (compared to this company's 241) and received an average PPP loan of $1,883,916 (compared to this company's $3.75M).

Similar Nearby Businesses Who Received PPP Funding:

Minna Logistics, Inc.
Ridgeview, IL

$20,832 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 510 businesses in the "Industrial Truck, Tractor, Trailer, and Stacker Machinery Manufacturing" industry received a total of $132,525,390.00 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 19 employees, 92% lower than Manitex International, Inc.'s reported 241 employees, and received an average PPP loan of $259,854, 93% lower than this company's loan of $3.75M.

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/manitex-international-inc-bridgeview-il