Matric Limited in Seneca, PA - SBA PPP Loan Data (Paycheck Protection Program)

PPP Loan Data — Matric Limited, Seneca, PA

Matric Limited

Entity: Subchapter S Corporation

Industry: Printed Circuit Assembly (Electronic Assembly) Manufacturing

Location: Seneca, PA

Matric Limited is a subchapter s corporation located at 2099 Hill City Road in Seneca, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $2,562,150.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.56M

Jobs Retained:

240

Loan Approved:

2020-04-15

Lender:

MANUFACTURERS AND TRADERS TRUST COMPANY

Matric Limited in Seneca, PA received a Paycheck Protection Loan of $2.56M through MANUFACTURERS AND TRADERS TRUST COMPANY, which was approved in April, 2020.

Based on standard PPP eligibility rules, Matric Limited's total 2019 payroll expenses were approximately $12.3M 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 $51,243 per employee¹.

Because the loan received by Matric Limited 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 - Matric Limited in Seneca, PA

Matric Limited
2099 Hill City Road
Seneca, PA 16346

Business Industry

Printed Circuit Assembly (Electronic Assembly) Manufacturing (NAICS code 334418)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: PA-15

Industry PPP Comparison Statistics

Nationwide, 480 businesses in the "Printed Circuit Assembly (Electronic Assembly) Manufacturing" industry received a total of $202,524,322.00 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 33 employees, 86% lower than Matric Limited's reported 240 employees, and received an average PPP loan of $421,926, 84% lower than this company's loan of $2.56M.

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.

Have FederalPay.org's open data tools been valuable? Consider donating!