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PPP Loan Data — Meador Staffing Services Inc, Pasadena, TX

SBA PPP loan data, payroll data, and salaries for Meador Staffing Services Inc
TX

Meador Staffing Services Inc

Entity: Corporation

Industry: Employment Placement Agencies

Location: Pasadena, TX

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Meador Staffing Services Inc is a corporation located at 722 A Fairmont Pkwy in Pasadena, Texas that received a Coronavirus-related PPP loan from the SBA of $4,374,755.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$4.37M

Jobs Retained:

479

Loan Approved:

2020-04-07

Lender:

COMMUNITYBANK OF TEXAS, NATIONAL ASSOCIATION

Meador Staffing Services Inc received a Paycheck Protection Loan of $4.37M through COMMUNITYBANK OF TEXAS, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Meador Staffing Services Inc's total 2019 payroll expenses were approximately $21M in order to qualify for the PPP loan amount received.

Based on their reported 479 jobs retained, this equals an estimated average yearly compensation of $43,839 per employee1.

Because the loan received by Meador Staffing Services 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 - Meador Staffing Services Inc in Pasadena, TX

Meador Staffing Services Inc
722 A Fairmont Pkwy
Pasadena, TX 77504

Business Industry

Employment Placement Agencies (NAICS code 561311)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: TX-36

Similar Companies near Pasadena

In the Pasadena area, 4 businesses in the "Employment Placement Agencies" industry received a PPP loan. These local businesses reported an average of 184 employees (compared to this company's 479) and received an average PPP loan of $1,960,664 (compared to this company's $4.37M).

Industry PPP Comparison Statistics

Nationwide, 7,294 businesses in the "Employment Placement Agencies" industry received a total of $2,648,453,106.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 1% of the total PPP funding allocated.

PPP recipients in this industry report an average of 38 employees, 92% lower than Meador Staffing Services Inc's reported 479 employees, and received an average PPP loan of $363,100, 92% lower than this company's loan of $4.37M.

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.

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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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/meador-staffing-services-inc-pasadena-tx