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PPP Loan Data — Michael Weinig Incorporated, Mooresville, NC

SBA PPP loan data, payroll data, and salaries for Michael Weinig Incorporated

Michael Weinig Incorporated

Entity: Corporation

Industry: Machine Tool Manufacturing

Location: Mooresville, NC

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Michael Weinig Incorporated is a corporation located at 124 Crosslake Park Drive in Mooresville, North Carolina that received a Coronavirus-related PPP loan from the SBA of $2,651,275.00 in April, 2020.

$ PPP Loan Information

Loan Size:


Jobs Retained:


Loan Approved:




Michael Weinig Incorporated in Mooresville, NC received a Paycheck Protection Loan of $2.65M through FIRST NATIONAL BANK OF PENNSYLVANIA, which was approved in April, 2020.

Based on standard PPP eligibility rules, Michael Weinig Incorporated's total 2019 payroll expenses were approximately $12.73M in order to qualify for the PPP loan amount received.

Based on their reported 147 jobs retained, this equals an estimated average yearly compensation of $86,572 per employee1.

Because the loan received by Michael Weinig Incorporated 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 - Michael Weinig Incorporated in Mooresville, NC

Michael Weinig Incorporated
124 Crosslake Park Drive
Mooresville, NC 28117

Business Industry

Machine Tool Manufacturing (NAICS code 333517)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: NC-13

Industry PPP Comparison Statistics

Nationwide, 1,912 businesses in the "Machine Tool Manufacturing" industry received a total of $446,556,196.00 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 16 employees, 89% lower than Michael Weinig Incorporated's reported 147 employees, and received an average PPP loan of $233,554, 91% lower than this company's loan of $2.65M.

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.

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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 - The Civil Employee's Resource **