PPP Loan Data — Michael C Mayo Inc, Blountstown, FL
Michael C Mayo Inc is a corporation located at 14923 Sw Mike Mayo Rd in Blountstown, Florida that received a Coronavirus-related PPP loan from the SBA of $46,195.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Michael C Mayo Inc in Blountstown, FL received a Paycheck Protection Loan of $46,195 through PeoplesSouth 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, Michael C Mayo Inc's 2019 payroll expenses are estimated to be at least $221,736.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $44,347 per employee1
Reported PPP Proceed Usage:
On the PPP application, Michael C Mayo Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,195
Business Information - Michael C Mayo Inc in Blountstown, FL
14923 Sw Mike Mayo Rd
Blountstown, FL 32424
NAICS code 238330
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Blountstown
In the Blountstown area, 4 businesses in the "Flooring Contractors" industry received a PPP loan. These local businesses reported an average of 7 employees (compared to this company's 5) and received an average PPP loan of $62,761 (compared to this company's $46,195).
Similar Nearby Businesses Who Received PPP Funding:
Brittin Lee Bush
Industry PPP Comparison Statistics
Nationwide, 28,132 businesses in the "Flooring Contractors" industry received a total of $1.48B 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 5 employees, the same amount reported by Michael C Mayo Inc and received an average PPP loan of $52,734, 14% higher than this company's loan of $46,195.
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Footnotes & Information
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