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PPP Loan Data — Mccormick Equipment Co,. Inc.,
Loveland, OH
Mccormick Equipment Co,. Inc.
Entity: Corporation
Industry: Industrial Machinery and Equipment Merchant Wholesalers
Location: Loveland, OH
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Mccormick Equipment Co,. Inc. is a corporation located at 112 Northeast Dr in Loveland, Ohio that received a Coronavirus-related PPP loan from the SBA of $2,696,400.00 in April, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
167Loan Approved:
2020-04-08Lender:
FIRST FINANCIAL BANKMccormick Equipment Co,. Inc. in Loveland, OH received a Paycheck Protection Loan of $2.7M through FIRST FINANCIAL BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Mccormick Equipment Co,. Inc.'s total 2019 payroll expenses were approximately $12.94M in order to qualify for the PPP loan amount received.
Based on their reported 167 jobs retained, this equals an estimated average yearly compensation of $77,501 per employee1.
Business Information - Mccormick Equipment Co,. Inc. in Loveland, OH
112 Northeast Dr
Loveland, OH 45140
Business Industry
Industrial Machinery and Equipment Merchant Wholesalers (NAICS code 423830)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: OH-02Similar Companies near Loveland
In the Loveland area, 3 businesses in the "Industrial Machinery and Equipment Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 69 employees (compared to this company's 167) and received an average PPP loan of $1,073,963 (compared to this company's $2.7M).
Similar Nearby Businesses Who Received PPP Funding:
Broderick & Associates
Loveland, OH
Fischer Pump & Valve Company
Loveland, OH
Industry PPP Comparison Statistics
Nationwide, 7,320 businesses in the "Industrial Machinery and Equipment Merchant Wholesalers" industry received a total of $1,713,685,837.00 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 15 employees, 91% lower than Mccormick Equipment Co,. Inc.'s reported 167 employees, and received an average PPP loan of $234,110, 91% lower than this company's loan of $2.7M.
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.
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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