Mid-Atlantic Finance Co., Inc. in Clearwater, FL - SBA PPP Loan Data (Paycheck Protection Program)

PPP Loan Data — Mid-Atlantic Finance Co., Inc., Clearwater, FL

Mid-Atlantic Finance Co., Inc.

Entity: Subchapter S Corporation

Industry: Consumer Lending

Location: Clearwater, FL

Mid-Atlantic Finance Co., Inc. is a subchapter s corporation located at 4592 Ulmerton Rd in Clearwater, Florida that received a Coronavirus-related PPP loan from the SBA of $2,627,000.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.63M

Jobs Retained:

263

Loan Approved:

2020-04-15

Lender:

COMERICA BANK

Mid-Atlantic Finance Co., Inc. received a Paycheck Protection Loan of $2.63M through COMERICA BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Mid-Atlantic Finance Co., Inc.'s total 2019 payroll expenses were approximately $12.61M in order to qualify for the PPP loan amount received.

Based on their reported 263 jobs retained, this equals an estimated average yearly compensation of $47,945 per employee¹.

Because the loan received by Mid-Atlantic Finance Co., 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-Atlantic Finance Co., Inc. in Clearwater, FL

Mid-Atlantic Finance Co., Inc.
4592 Ulmerton Rd
Clearwater, FL 33762

Business Industry

Consumer Lending (NAICS code 522291)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: FL-13

Industry PPP Comparison Statistics

Nationwide, 1,653 businesses in the "Consumer Lending" industry received a total of $270,440,458.00 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 13 employees, 95% lower than Mid-Atlantic Finance Co., Inc.'s reported 263 employees, and received an average PPP loan of $163,606, 94% lower than this company's loan of $2.63M.

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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA.

Search FederalPay's Full PPP Loan Database

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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