PPP Loan Data — MEI, Inc, Arlington, TX
Location: Arlington, TXTweet This • Search All PPP Data
MEI, Inc is a corporation located at 1911 E Division Street in Arlington, Texas that received a Coronavirus-related PPP loan from the SBA of $1,610,800.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 143 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Susser Bank d/b/a Affiliated Bank
MEI, Inc in Arlington, TX received a Paycheck Protection Loan of $1.61M through Susser Bank d/b/a Affiliated Bank, 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, MEI, Inc's 2019 payroll expenses are estimated to be at least $7.73M.
Based on their reported 143 jobs retained, this equals an estimated average yearly compensation of $54,069 per employee1
Reported PPP Proceed Usage:
On the PPP application, MEI, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,610,800
Business Information - MEI, Inc in Arlington, TX
1911 E Division Street
Arlington, TX 76011
Other Miscellaneous Durable Goods Merchant Wholesalers
NAICS code 423990
Business Owner Demographics
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Arlington
In the Arlington area, 11 businesses in the "Other Miscellaneous Durable Goods Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 21 employees (compared to this company's 143) and received an average PPP loan of $252,362 (compared to this company's $1.61M).
Similar Nearby Businesses Who Received PPP Funding:
Texas Sticks & Stones Unlimited Inc
GST Family Group LLC
Industrial Bolt And Supply, Inc
Trinity Fastener Company
LPI Casters Inc
RKR Technologies LTD
Industry PPP Comparison Statistics
Nationwide, 26,568 businesses in the "Other Miscellaneous Durable Goods Merchant Wholesalers" industry received a total of $1.98B 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 7 employees, 95% lower than MEI, Inc's reported 143 employees, and received an average PPP loan of $74,615, 95% lower than this company's loan of $1.61M.
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