PPP Loan Data — Mekra Lang North America LLC, Ridgeway, SC
Mekra Lang North America LLC
Entity: Limited Liability Company (LLC)
Location: Ridgeway, SCTweet This • Search All PPP Data
Mekra Lang North America LLC is a limited liability company (LLC) located at 101 Tillessen Blvd in Ridgeway, South Carolina that received a Coronavirus-related PPP loan from the SBA of $2,336,800.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:First-Citizens Bank & Trust Company
Mekra Lang North America LLC in Ridgeway, SC received a Paycheck Protection Loan of $2.34M through First-Citizens Bank & Trust Company, 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, Mekra Lang North America LLC's 2019 payroll expenses are estimated to be at least $11.22M.
Based on their reported 211 jobs retained, this equals an estimated average yearly compensation of $53,159 per employee1
Reported PPP Proceed Usage:
On the PPP application, Mekra Lang North America LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,336,800
Business Information - Mekra Lang North America LLC in Ridgeway, SC
101 Tillessen Blvd
Ridgeway, SC 29130
Industrial Machinery and Equipment Merchant Wholesalers
NAICS code 423830
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: Y
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 11,076 businesses in the "Industrial Machinery and Equipment Merchant Wholesalers" industry received a total of $2.24B 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 15 employees, 93% lower than Mekra Lang North America LLC's reported 211 employees, and received an average PPP loan of $202,534, 91% lower than this company's loan of $2.34M.
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Footnotes & Information
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