PPP Loan Data — Mid-American Fabricators, Inc, Warsaw, KY
Mid-American Fabricators, Inc is a subchapter s corporation located at Po Box 258 in Warsaw, Kentucky that received a Coronavirus-related PPP loan from the SBA of $25,338.00 in May, 2020.
The company has reported itself as a male owned business, and employed at least three people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Citizens Union Bank of Shelbyville
Mid-American Fabricators, Inc in Warsaw, KY received a Paycheck Protection Loan of $25,338 through Citizens Union Bank of Shelbyville, which was approved in May, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in May, 2021.
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 Fabricators, Inc's 2019 payroll expenses are estimated to be at least $121,622.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,541 per employee1
Reported PPP Proceed Usage:
On the PPP application, Mid-American Fabricators, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,338
Business Information - Mid-American Fabricators, Inc in Warsaw, KY
Po Box 258
Warsaw, KY 41095
Fabricated Structural Metal Manufacturing
NAICS code 332312
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: Y
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 5,157 businesses in the "Fabricated Structural Metal Manufacturing" industry received a total of $1.41B 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 24 employees, 700% higher than Mid-American Fabricators, Inc's reported 3 employees, and received an average PPP loan of $273,385, 979% higher than this company's loan of $25,338.
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Footnotes & Information
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