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PPP Loan Data — Matsuo Industries USA, Inc, Jefferson City, TN

SBA PPP loan data, payroll data, and salaries for Matsuo Industries USA, Inc
TN

Matsuo Industries USA, Inc

Entity: Corporation

Industry: Other Motor Vehicle Parts Manufacturing

Location: Jefferson City, TN

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Matsuo Industries USA, Inc is a corporation located at 408 Municipal Drive in Jefferson City, Tennessee that received a Coronavirus-related PPP loan from the SBA of $2,610,800.00 in May, 2020.

$ PPP Loan Information

Loan Size:

$2.61M

Jobs Retained:

231

Loan Approved:

2020-05-11

Lender:

TRUIST BANK D/B/A BRANCH BANKING & TRUST CO

Matsuo Industries USA, Inc in Jefferson City, TN received a Paycheck Protection Loan of $2.61M through TRUIST BANK D/B/A BRANCH BANKING & TRUST CO, which was approved in May, 2020.

Based on standard PPP eligibility rules, Matsuo Industries USA, Inc's total 2019 payroll expenses were approximately $12.53M in order to qualify for the PPP loan amount received.

Based on their reported 231 jobs retained, this equals an estimated average yearly compensation of $54,250 per employee1.

Because the loan received by Matsuo Industries USA, 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 - Matsuo Industries USA, Inc in Jefferson City, TN

Matsuo Industries USA, Inc
408 Municipal Drive
Jefferson City, TN 37760

Business Industry

Other Motor Vehicle Parts Manufacturing (NAICS code 336390)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: TN-02

Industry PPP Comparison Statistics

Nationwide, 1,012 businesses in the "Other Motor Vehicle Parts Manufacturing" industry received a total of $430,804,983.00 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 Matsuo Industries USA, Inc's reported 231 employees, and received an average PPP loan of $425,697, 84% lower than this company's loan of $2.61M.

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.

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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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Source: www.federalpay.org/paycheck-protection-program/matsuo-industries-usa-inc-jefferson-city-tn