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PPP Loan Data — Mid America Mortgage, Inc, Addison, TX

SBA PPP loan data, payroll data, and salaries for Mid America Mortgage, Inc
TX

Mid America Mortgage, Inc

Entity: Corporation

Industry: Real Estate Credit

Location: Addison, TX

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Mid America Mortgage, Inc is a corporation located at 15301 Spectrum Dr in Addison, Texas that received a Coronavirus-related PPP loan from the SBA of $6,178,000.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$6.18M

Jobs Retained:

439

Loan Approved:

2020-04-27

Lender:

ORIGIN BANK

Mid America Mortgage, Inc in Addison, TX received a Paycheck Protection Loan of $6.18M through ORIGIN BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Mid America Mortgage, Inc's total 2019 payroll expenses were approximately $29.65M in order to qualify for the PPP loan amount received.

Based on their reported 439 jobs retained, this equals an estimated average yearly compensation of $67,550 per employee1.

Because the loan received by Mid America Mortgage, 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 - Mid America Mortgage, Inc in Addison, TX

Mid America Mortgage, Inc
15301 Spectrum Dr
Addison, TX 75001

Business Industry

Real Estate Credit (NAICS code 522292)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: TX-24

Industry PPP Comparison Statistics

Nationwide, 1,706 businesses in the "Real Estate Credit" industry received a total of $570,275,600.00 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 21 employees, 95% lower than Mid America Mortgage, Inc's reported 439 employees, and received an average PPP loan of $334,276, 95% lower than this company's loan of $6.18M.

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 www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/mid-america-mortgage-inc-addison-tx