PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Marchant Schmidt Inc, Fond Du Lac, WI

ALERT: There are 2 PPP loans for a total of $3.72M in our database for businesses with the name "Marchant Schmidt Inc" in Fond Du Lac, WI. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Marchant Schmidt Inc
WI

Marchant Schmidt Inc

Entity: Corporation

Industry: Food Product Machinery Manufacturing

Location: Fond Du Lac, WI

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Marchant Schmidt Inc is a corporation located at 24 W Larsen Dr in Fond Du Lac, Wisconsin that received a Coronavirus-related PPP loan from the SBA of $1,912,500.00 in January, 2021.

$ PPP Loan Information
Loan #6401828303

Loan Size:

$1.91M

Jobs Retained:

145

Loan Approved:

2021-01-27

Loan Status:

Ongoing Loan

Lender:

BMO Harris Bank National Association

Marchant Schmidt Inc in Fond Du Lac, WI received a Paycheck Protection Loan of $1.91M through BMO Harris Bank National Association, which was approved in January, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Marchant Schmidt Inc's 2019 payroll expenses are estimated to be at least $9.18M.

Based on their reported 145 jobs retained, this equals an estimated average yearly compensation of $63,310 per employee1

Reported PPP Proceed Usage:

On the PPP application, Marchant Schmidt Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,912,498
  • Utilities: $1

Business Information - Marchant Schmidt Inc in Fond Du Lac, WI

Marchant Schmidt Inc
24 W Larsen Dr
Fond Du Lac, WI 54937

Business Industry:
Food Product Machinery Manufacturing
NAICS code 333241

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Rural

Fond Du Lac County, WI — SBA Office 0563 — Congressional District: WI-06

Industry PPP Comparison Statistics

Nationwide, 1,221 businesses in the "Food Product Machinery Manufacturing" industry received a total of $268.56M 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 19 employees, 87% lower than Marchant Schmidt Inc's reported 145 employees, and received an average PPP loan of $219,954, 88% lower than this company's loan of $1.91M.

SBA PPP loan data, payroll data, and salaries for Marchant-Schmidt Inc
WI

Marchant-Schmidt Inc

Entity: Corporation

Industry: Food Product Machinery Manufacturing

Location: Fond Du Lac, WI

Search All PPP Data

Marchant-Schmidt Inc is a corporation located at 24 West Larsen Drive in Fond Du Lac, Wisconsin that received a Coronavirus-related PPP loan from the SBA of $1,807,500.00 in April, 2020.

$ PPP Loan Information
Loan #6456497007

Loan Size:

$1.81M

Jobs Retained:

170

Loan Approved:

2020-04-07

Loan Status:

Paid in Full or Forgiven

Lender:

BMO Harris Bank National Association

Marchant-Schmidt Inc in Fond Du Lac, WI received a Paycheck Protection Loan of $1.81M through BMO Harris Bank National Association, which was approved in April, 2020.

This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in January, 2021.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Marchant-Schmidt Inc's 2019 payroll expenses are estimated to be at least $8.68M.

Based on their reported 170 jobs retained, this equals an estimated average yearly compensation of $51,035 per employee1

Reported PPP Proceed Usage:

On the PPP application, Marchant-Schmidt Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,807,500

Business Information - Marchant-Schmidt Inc in Fond Du Lac, WI

Marchant-Schmidt Inc
24 West Larsen Drive
Fond Du Lac, WI 54937

Business Industry:
Food Product Machinery Manufacturing
NAICS code 333241

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Rural

Fond Du Lac County, WI — SBA Office 0563 — Congressional District: WI-06

Industry PPP Comparison Statistics

Nationwide, 1,221 businesses in the "Food Product Machinery Manufacturing" industry received a total of $268.56M 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 19 employees, 89% lower than Marchant-Schmidt Inc's reported 170 employees, and received an average PPP loan of $219,954, 88% lower than this company's loan of $1.81M.

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. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. 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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Source: www.federalpay.org/paycheck-protection-program/marchant-schmidt-inc-fond-du-lac-wi