PPP Loan Data — Manpower Of Wv, Inc, Huntington, WV
Manpower Of Wv, Inc is a subchapter s corporation located at 528 5th Ave in Huntington, West Virginia that received a Coronavirus-related PPP loan from the SBA of $2,404,273.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Truist Bank d/b/a Branch Banking & Trust Co
Manpower Of Wv, Inc in Huntington, WV received a Paycheck Protection Loan of $2.4M through Truist Bank d/b/a Branch Banking & Trust Co, which was approved in April, 2020.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
Based on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, Manpower Of Wv, Inc's 2019 payroll expenses are estimated to be at least $11.54M.
Based on their reported 475 jobs retained, this equals an estimated average yearly compensation of $24,296 per employee1
Reported PPP Proceed Usage:
On the PPP application, Manpower Of Wv, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,404,273
Business Information - Manpower Of Wv, Inc in Huntington, WV
528 5th Ave
Huntington, WV 25701
Employment Placement Agencies
NAICS code 561311
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 12,601 businesses in the "Employment Placement Agencies" industry received a total of $3.48B in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 35 employees, 93% lower than Manpower Of Wv, Inc's reported 475 employees, and received an average PPP loan of $275,915, 89% lower than this company's loan of $2.4M.
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Footnotes & Information
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