PPP Loan Data — Mega Fluid Systems, Inc, Tualatin, OR
Mega Fluid Systems, Inc is a corporation located at 9398 Southwest Tualatin-sherwood Road in Tualatin, Oregon that received a Coronavirus-related PPP loan from the SBA of $1,637,335.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Cross River Bank
Mega Fluid Systems, Inc in Tualatin, OR received a Paycheck Protection Loan of $1.64M through Cross River Bank, which was approved in May, 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
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, Mega Fluid Systems, Inc's 2019 payroll expenses are estimated to be at least $7.86M.
Based on their reported 108 jobs retained, this equals an estimated average yearly compensation of $72,770 per employee1
Reported PPP Proceed Usage:
On the PPP application, Mega Fluid Systems, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,637,335
Business Information - Mega Fluid Systems, Inc in Tualatin, OR
9398 Southwest Tualatin-sherwood Road
Tualatin, OR 97062
All Other Miscellaneous Manufacturing
NAICS code 339999
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Tualatin
In the Tualatin area, 2 businesses in the "All Other Miscellaneous Manufacturing" industry received a PPP loan. These local businesses reported an average of 56 employees (compared to this company's 108) and received an average PPP loan of $845,993 (compared to this company's $1.64M).
Similar Nearby Businesses Who Received PPP Funding:
Industry PPP Comparison Statistics
Nationwide, 17,359 businesses in the "All Other Miscellaneous Manufacturing" industry received a total of $2.06B 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 12 employees, 89% lower than Mega Fluid Systems, Inc's reported 108 employees, and received an average PPP loan of $118,586, 93% lower than this company's loan of $1.64M.
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Footnotes & Information
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