PPP Loan Data — Mcrandal Fluid Power Inc, Creighton, PA
Mcrandal Fluid Power Inc is a subchapter s corporation located at 326 Freeport Rd in Creighton, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $24,900.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:First Commonwealth Bank
Mcrandal Fluid Power Inc in Creighton, PA received a Paycheck Protection Loan of $24,900 through First Commonwealth Bank, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in May, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
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, Mcrandal Fluid Power Inc's 2019 payroll expenses are estimated to be at least $119,520.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $23,904 per employee1
Reported PPP Proceed Usage:
On the PPP application, Mcrandal Fluid Power Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,900
Business Information - Mcrandal Fluid Power Inc in Creighton, PA
326 Freeport Rd
Creighton, PA 15030
Fluid Power Valve and Hose Fitting Manufacturing
NAICS code 332912
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 323 businesses in the "Fluid Power Valve and Hose Fitting Manufacturing" industry received a total of $121.91M in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 31 employees, 520% higher than Mcrandal Fluid Power Inc's reported 5 employees, and received an average PPP loan of $377,434, 1416% higher than this company's loan of $24,900.
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Footnotes & Information
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