PPP Loan Data — MCI, Lc, Iowa City, IA
MCI, Lc is a limited liability company (LLC) located at 2937 Sierra Ct Sw in Iowa City, Iowa that received a Coronavirus-related PPP loan from the SBA of $7,134,900.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 500 people during the applicable loan loan period.
$ PPP Loan Information
Lender:FIFTH THIRD BANK
MCI, Lc in Iowa City, IA received a Paycheck Protection Loan of $7.13M through FIFTH THIRD BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, MCI, Lc's total 2019 payroll expenses were approximately $34.25M in order to qualify for the PPP loan amount received.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $68,495 per employee1.
Business Information - MCI, Lc in Iowa City, IA
2937 Sierra Ct Sw
Iowa City, IA 52240
Telemarketing Bureaus and Other Contact Centers (NAICS code 561422)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: MALE OWNED
Veteran Status: NON-VETERANCongressional District: IA-02
Industry PPP Comparison Statistics
Nationwide, 721 businesses in the "Telemarketing Bureaus and Other Contact Centers" industry received a total of $234,982,728.00 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 37 employees, 93% lower than MCI, Lc's reported 500 employees, and received an average PPP loan of $325,912, 95% lower than this company's loan of $7.13M.
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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