PPP Loan Data — Midas Mv Inc, Mission Viejo, CA
Midas Mv Inc is a corporation located at 25902 El Paseo in Mission Viejo, California that received a Coronavirus-related PPP loan from the SBA of $46,160.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bank of America, National Association
Midas Mv Inc in Mission Viejo, CA received a Paycheck Protection Loan of $46,160 through Bank of America, National Association, 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 June, 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, Midas Mv Inc's 2019 payroll expenses are estimated to be at least $221,568.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $55,392 per employee1
Reported PPP Proceed Usage:
On the PPP application, Midas Mv Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,160
Business Information - Midas Mv Inc in Mission Viejo, CA
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
PPP recipients in this industry report an average of 0 employees, 100% lower than Midas Mv Inc's reported 4 employees, and received an average PPP loan of $0, 100% lower than this company's loan of $46,160.
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Footnotes & Information
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