PPP Loan Data — Mid Atlantic Industrial Equipment, LTD, York, PA
Mid Atlantic Industrial Equipment, LTD is a corporation located at 1231 East Wallace Street in York, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $621,190.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 48 people during the applicable loan loan period.
$ PPP Loan Information
Mid Atlantic Industrial Equipment, LTD received a Paycheck Protection Loan of $621,190 through LINKBANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Mid Atlantic Industrial Equipment, LTD's total 2019 payroll expenses were approximately $2.98M in order to qualify for the PPP loan amount received.
Based on their reported 48 jobs retained, this equals an estimated average yearly compensation of $62,119 per employee1.
Business Information - Mid Atlantic Industrial Equipment, LTD in York, PA
1231 East Wallace Street
York, PA 17403
Other Industrial Machinery Manufacturing (NAICS code 333249)
Business Owner Demographics
Race / Ethnicity: WHITE
Gender: MALE OWNED
Veteran Status: NON-VETERANCongressional District: PA-10
Similar Companies near York
In the York area, 4 businesses in the "Other Industrial Machinery Manufacturing" industry received a PPP loan. These local businesses reported an average of 49 employees (compared to this company's 48) and received an average PPP loan of $986,636 (compared to this company's $621,190).
Similar Nearby Businesses Who Received PPP Funding:
3TC Robotics LLC
Graham Engineering Corporation
MK Solutions, Inc.
Industry PPP Comparison Statistics
Nationwide, 2,172 businesses in the "Other Industrial Machinery Manufacturing" industry received a total of $695,492,915.00 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 22 employees, 54% lower than Mid Atlantic Industrial Equipment, LTD's reported 48 employees, and received an average PPP loan of $320,209, 48% lower than this company's loan of $621,190.
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. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
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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