PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Mcgowan Working Partners Inc, Jackson, MS

ALERT: There are 2 PPP loans for a total of $4.06M in our database for businesses with the name "Mcgowan Working Partners Inc" in Jackson, MS. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Mcgowan Working Partners Inc
MS

Mcgowan Working Partners Inc

Entity: Corporation

Industry: Crude Petroleum Extraction 

Location: Jackson, MS

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Mcgowan Working Partners Inc is a corporation located at 1837 Crane Ridge Dr in Jackson, Mississippi that received a Coronavirus-related PPP loan from the SBA of $1,951,600.00 in January, 2021.

$ PPP Loan Information Loan #2024088301

Loan Size:

$1.95M

Jobs Retained:

108

Loan Approved:

2021-01-20

Loan Status:

Ongoing Loan

Lender:

BankFirst Financial Services

Mcgowan Working Partners Inc in Jackson, MS received a Paycheck Protection Loan of $1.95M through BankFirst Financial Services, which was approved in January, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Mcgowan Working Partners Inc's 2019 payroll expenses are estimated to be at least $9.37M.

Based on their reported 108 jobs retained, this equals an estimated average yearly compensation of $86,738 per employee1

Reported PPP Proceed Usage:

On the PPP application, Mcgowan Working Partners Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,951,598
  • Utilities: $1

Business Information - Mcgowan Working Partners Inc in Jackson, MS

Mcgowan Working Partners Inc
1837 Crane Ridge Dr
Jackson, MS 39216

Business Industry:
Crude Petroleum Extraction 
NAICS code 211120

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Hinds County, MS — SBA Office 0470 — Congressional District: MS-03

Similar Companies near Jackson

In the Jackson area, 3 businesses in the "Crude Petroleum Extraction " industry received a PPP loan. These local businesses reported an average of 37 employees (compared to this company's 108) and received an average PPP loan of $653,947 (compared to this company's $1.95M).

Industry PPP Comparison Statistics

Nationwide, 5,243 businesses in the "Crude Petroleum Extraction " industry received a total of $614,406,601.00 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 7 employees, 94% lower than Mcgowan Working Partners Inc's reported 108 employees, and received an average PPP loan of $117,186, 94% lower than this company's loan of $1.95M.

SBA PPP loan data, payroll data, and salaries for Mcgowan Working Partners, Inc
MS

Mcgowan Working Partners, Inc

Entity: Corporation

Industry: Drilling Oil and Gas Wells

Location: Jackson, MS

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Mcgowan Working Partners, Inc is a corporation located at 1837 Crane Ridge Dr in Jackson, Mississippi that received a Coronavirus-related PPP loan from the SBA of $2,105,200.00 in April, 2020.

$ PPP Loan Information Loan #1466337104

Loan Size:

$2.11M

Jobs Retained:

121

Loan Approved:

2020-04-10

Loan Status:

Ongoing Loan

Lender:

BankFirst Financial Services

Mcgowan Working Partners, Inc in Jackson, MS received a Paycheck Protection Loan of $2.11M through BankFirst Financial Services, which was approved in April, 2020.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Mcgowan Working Partners, Inc's 2019 payroll expenses are estimated to be at least $10.1M.

Based on their reported 121 jobs retained, this equals an estimated average yearly compensation of $83,512 per employee1

Reported PPP Proceed Usage:

On the PPP application, Mcgowan Working Partners, Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $2,105,200
Because the loan received by Mcgowan Working Partners, 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 - Mcgowan Working Partners, Inc in Jackson, MS

Mcgowan Working Partners, Inc
1837 Crane Ridge Dr
Jackson, MS 39216

Business Industry:
Drilling Oil and Gas Wells
NAICS code 213111

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Hinds County, MS — SBA Office 0470 — Congressional District: MS-03

Similar Companies near Jackson

In the Jackson area, 3 businesses in the "Drilling Oil and Gas Wells" industry received a PPP loan. These local businesses reported an average of 48 employees (compared to this company's 121) and received an average PPP loan of $815,475 (compared to this company's $2.11M).

Industry PPP Comparison Statistics

Nationwide, 4,866 businesses in the "Drilling Oil and Gas Wells" industry received a total of $731,139,172.00 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 10 employees, 92% lower than Mcgowan Working Partners, Inc's reported 121 employees, and received an average PPP loan of $150,255, 93% lower than this company's loan of $2.11M.

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. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. 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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/mcgowan-working-partners-inc-jackson-ms