PPP Loan Data — Mechatronics, Inc, Preston, WA
Mechatronics, Inc is a subchapter s corporation located at 8152 304th Ave Se Po Box 5012 in Preston, Washington that received a Coronavirus-related PPP loan from the SBA of $2,281,520.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:JPMorgan Chase Bank, National Association
Mechatronics, Inc in Preston, WA received a Paycheck Protection Loan of $2.28M through JPMorgan Chase Bank, National Association, which was approved in April, 2020.
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, Mechatronics, Inc's 2019 payroll expenses are estimated to be at least $10.95M.
Based on their reported 152 jobs retained, this equals an estimated average yearly compensation of $72,048 per employee1
Reported PPP Proceed Usage:
On the PPP application, Mechatronics, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,840,000
- Utilities: $25,520
- Rent: $116,000
- Health Care: $225,000
- Debt Interest: $75,000
Business Information - Mechatronics, Inc in Preston, WA
8152 304th Ave Se Po Box 5012
Preston, WA 98050
Industrial Supplies Merchant Wholesalers
NAICS code 423840
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Preston
In the Preston area, 2 businesses in the "Industrial Supplies Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 81 employees (compared to this company's 152) and received an average PPP loan of $1,226,307 (compared to this company's $2.28M).
Similar Nearby Businesses Who Received PPP Funding:
Precise Tool & Gage Co Inc
Industry PPP Comparison Statistics
Nationwide, 6,397 businesses in the "Industrial Supplies Merchant Wholesalers" industry received a total of $1.02B 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 13 employees, 91% lower than Mechatronics, Inc's reported 152 employees, and received an average PPP loan of $160,215, 93% lower than this company's loan of $2.28M.
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Footnotes & Information
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