PPP Loan Data — Mid-American Cleaning Contractors, Inc, Lima, OH
Mid-American Cleaning Contractors, Inc is a subchapter s corporation located at 750 Buckeye Rd in Lima, Ohio that received a Coronavirus-related PPP loan from the SBA of $2,223,300.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 377 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Mid-American Cleaning Contractors, Inc in Lima, OH received a Paycheck Protection Loan of $2.22M through Premier 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, Mid-American Cleaning Contractors, Inc's 2019 payroll expenses are estimated to be at least $10.67M.
Based on their reported 377 jobs retained, this equals an estimated average yearly compensation of $28,307 per employee1
Reported PPP Proceed Usage:
On the PPP application, Mid-American Cleaning Contractors, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,223,300
Business Information - Mid-American Cleaning Contractors, Inc in Lima, OH
750 Buckeye Rd
Lima, OH 45804
NAICS code 561720
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Lima
In the Lima area, 15 businesses in the "Janitorial Services" industry received a PPP loan. These local businesses reported an average of 32 employees (compared to this company's 377) and received an average PPP loan of $202,746 (compared to this company's $2.22M).
Similar Nearby Businesses Who Received PPP Funding:
Team Green Clean LLC
The Powell Company, LTD
Industry PPP Comparison Statistics
Nationwide, 146,067 businesses in the "Janitorial Services" industry received a total of $4.43B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 5 employees, 99% lower than Mid-American Cleaning Contractors, Inc's reported 377 employees, and received an average PPP loan of $30,311, 99% lower than this company's loan of $2.22M.
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Footnotes & Information
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