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PPP Loan Data — Mid-West Hose & Specialty, Inc, Oklahoma City, OK

SBA PPP loan data, payroll data, and salaries for Mid-West Hose & Specialty, Inc
OK

Mid-West Hose & Specialty, Inc

Entity: Corporation

Industry: Rubber and Plastics Hoses and Belting Manufacturing

Location: Oklahoma City, OK

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Mid-West Hose & Specialty, Inc is a corporation located at 3312 S I-35 Service Rd in Oklahoma City, Oklahoma that received a Coronavirus-related PPP loan from the SBA of $3,399,300.00 in April, 2020.

The company has reported itself as a White male owned business, and employed at least 316 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$3.4M

Jobs Retained:

316

Loan Approved:

2020-04-06

Lender:

BANCFIRST

Mid-West Hose & Specialty, Inc received a Paycheck Protection Loan of $3.4M through BANCFIRST, which was approved in April, 2020.

Based on standard PPP eligibility rules, Mid-West Hose & Specialty, Inc's total 2019 payroll expenses were approximately $16.32M in order to qualify for the PPP loan amount received.

Based on their reported 316 jobs retained, this equals an estimated average yearly compensation of $51,635 per employee1.

Because the loan received by Mid-West Hose & Specialty, 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-West Hose & Specialty, Inc in Oklahoma City, OK

Mid-West Hose & Specialty, Inc
3312 S I-35 Service Rd
Oklahoma City, OK 73129

Business Industry

Rubber and Plastics Hoses and Belting Manufacturing (NAICS code 326220)

Business Owner Demographics

Race / Ethnicity: WHITE

Gender: MALE OWNED

Veteran Status: NON-VETERAN

Congressional District: OK-05

Industry PPP Comparison Statistics

Nationwide, 258 businesses in the "Rubber and Plastics Hoses and Belting Manufacturing" industry received a total of $87,516,775.00 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 31 employees, 90% lower than Mid-West Hose & Specialty, Inc's reported 316 employees, and received an average PPP loan of $339,212, 90% lower than this company's loan of $3.4M.

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.

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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-west-hose-and-specialty-inc-oklahoma-city-ok