PPP Loan Data — Max-Tech, Inc., Hamel, MN
Location: Hamel, MNTweet This • Search All PPP Data
Max-Tech, Inc. is a corporation located at 920 Hamel Road in Hamel, Minnesota that received a Coronavirus-related PPP loan from the SBA of $4,423,300.00 in April, 2020.
$ PPP Loan Information
Lender:BREMER BANK, NATIONAL ASSOCIATION
Max-Tech, Inc. received a Paycheck Protection Loan of $4.42M through BREMER BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Max-Tech, Inc.'s total 2019 payroll expenses were approximately $21.23M in order to qualify for the PPP loan amount received.
Based on their reported 373 jobs retained, this equals an estimated average yearly compensation of $56,922 per employee1.
Business Information - Max-Tech, Inc. in Hamel, MN
920 Hamel Road
Hamel, MN 55340
Brick, Stone, and Related Construction Material Merchant Wholesalers (NAICS code 423320)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: MN-03
Similar Companies near Hamel
In the Hamel area, 2 businesses in the "Brick, Stone, and Related Construction Material Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 190 employees (compared to this company's 373) and received an average PPP loan of $2,247,263 (compared to this company's $4.42M).
Similar Nearby Businesses Who Received PPP Funding:
AL's Taping Tools And Spray
Industry PPP Comparison Statistics
Nationwide, 2,253 businesses in the "Brick, Stone, and Related Construction Material Merchant Wholesalers" industry received a total of $372,043,686.00 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 13 employees, 97% lower than Max-Tech, Inc.'s reported 373 employees, and received an average PPP loan of $165,133, 96% lower than this company's loan of $4.42M.
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.
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!