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PPP Loan Data — Merrill Iron & Steel, Inc., Schofield, WI

SBA PPP loan data, payroll data, and salaries for Merrill Iron & Steel, Inc.
WI

Merrill Iron & Steel, Inc.

Entity: Subchapter S Corporation

Industry: Fabricated Structural Metal Manufacturing

Location: Schofield, WI

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Merrill Iron & Steel, Inc. is a subchapter s corporation located at 900 Alderson Street in Schofield, Wisconsin that received a Coronavirus-related PPP loan from the SBA of $5,037,000.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$5.04M

Jobs Retained:

435

Loan Approved:

2020-04-06

Lender:

BMO HARRIS BANK NATIONAL ASSOCIATION

Merrill Iron & Steel, Inc. in Schofield, WI received a Paycheck Protection Loan of $5.04M through BMO HARRIS BANK NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Merrill Iron & Steel, Inc.'s total 2019 payroll expenses were approximately $24.18M in order to qualify for the PPP loan amount received.

Based on their reported 435 jobs retained, this equals an estimated average yearly compensation of $55,581 per employee1.

Because the loan received by Merrill Iron & Steel, Inc. is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Merrill Iron & Steel, Inc. in Schofield, WI

Merrill Iron & Steel, Inc.
900 Alderson Street
Schofield, WI 54476

Business Industry

Fabricated Structural Metal Manufacturing (NAICS code 332312)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: WI-07

Similar Companies near Schofield

In the Schofield area, 2 businesses in the "Fabricated Structural Metal Manufacturing" industry received a PPP loan. These local businesses reported an average of 229 employees (compared to this company's 435) and received an average PPP loan of $2,668,435 (compared to this company's $5.04M).

Similar Nearby Businesses Who Received PPP Funding:

Custom Steel, Inc.
Schofield, WI

$299,870 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 3,076 businesses in the "Fabricated Structural Metal Manufacturing" industry received a total of $957,416,230.00 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 23 employees, 95% lower than Merrill Iron & Steel, Inc.'s reported 435 employees, and received an average PPP loan of $311,254, 94% lower than this company's loan of $5.04M.

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, and is published unmodified, as provided by the SBA.

Search FederalPay's Full PPP Loan Database

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/merrill-iron-and-steel-inc-schofield-wi