PPP Loan Data — Material Handling Solutions Inc, Olive Branch, MS
Material Handling Solutions Inc is a corporation located at 2116 Ross Road in Olive Branch, Mississippi that received a Coronavirus-related PPP loan from the SBA of $25,480.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Material Handling Solutions Inc in Olive Branch, MS received a Paycheck Protection Loan of $25,480 through BancorpSouth Bank, 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 December, 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, Material Handling Solutions Inc's 2019 payroll expenses are estimated to be at least $122,304.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,576 per employee1
Reported PPP Proceed Usage:
On the PPP application, Material Handling Solutions Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,480
Business Information - Material Handling Solutions Inc in Olive Branch, MS
2116 Ross Road
Olive Branch, MS 38654
Wood Container and Pallet Manufacturing
NAICS code 321920
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 2,293 businesses in the "Wood Container and Pallet Manufacturing" industry received a total of $379.46M 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 22 employees, 450% higher than Material Handling Solutions Inc's reported 4 employees, and received an average PPP loan of $165,486, 549% higher than this company's loan of $25,480.
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Footnotes & Information
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