PPP Loan Data — Mennie's Machine Company, Mark, IL
Mennie's Machine Company
Entity: Subchapter S Corporation
Location: Mark, ILTweet This • Search All PPP Data
Mennie's Machine Company is a subchapter s corporation located at 10549 Mennies Lane in Mark, Illinois that received a Coronavirus-related PPP loan from the SBA of $2,680,100.00 in April, 2020.
$ PPP Loan Information
Lender:OLD PLANK TRAIL COMMUNITY BANK, NATIONAL ASSOCIATION
Mennie's Machine Company received a Paycheck Protection Loan of $2.68M through OLD PLANK TRAIL COMMUNITY BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Mennie's Machine Company's total 2019 payroll expenses were approximately $12.86M in order to qualify for the PPP loan amount received.
Based on their reported 203 jobs retained, this equals an estimated average yearly compensation of $63,372 per employee1.
Business Information - Mennie's Machine Company in Mark, IL
10549 Mennies Lane
Mark, IL 61340
Special Die and Tool, Die Set, Jig, and Fixture Manufacturing (NAICS code 333514)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: IL-16
Industry PPP Comparison Statistics
Nationwide, 1,417 businesses in the "Special Die and Tool, Die Set, Jig, and Fixture Manufacturing" industry received a total of $407,746,564.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.
PPP recipients in this industry report an average of 19 employees, 91% lower than Mennie's Machine Company's reported 203 employees, and received an average PPP loan of $287,753, 89% lower than this company's loan of $2.68M.
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.
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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