PPP Loan Data — Midcon Cables Company, Inc, Joplin, MO
Midcon Cables Company, Inc
Entity: Employee Stock Ownership Plan(esop)
Location: Joplin, MOTweet This • Search All PPP Data
Midcon Cables Company, Inc is an employee stock ownership plan(esop) located at 2500 Davis Blvd in Joplin, Missouri that received a Coronavirus-related PPP loan from the SBA of $2,004,100.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Midcon Cables Company, Inc in Joplin, MO received a Paycheck Protection Loan of $2M through Arvest Bank, which was approved in April, 2020.
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, Midcon Cables Company, Inc's 2019 payroll expenses are estimated to be at least $9.62M.
Based on their reported 217 jobs retained, this equals an estimated average yearly compensation of $44,330 per employee1
Reported PPP Proceed Usage:
On the PPP application, Midcon Cables Company, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,004,100
Business Information - Midcon Cables Company, Inc in Joplin, MO
2500 Davis Blvd
Joplin, MO 64804
Guided Missile and Space Vehicle Propulsion Unit and Propulsion Unit Parts Manufacturing
NAICS code 336415
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 35 businesses in the "Guided Missile and Space Vehicle Propulsion Unit and Propulsion Unit Parts Manufacturing" industry received a total of $8.89M 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 32 employees, 85% lower than Midcon Cables Company, Inc's reported 217 employees, and received an average PPP loan of $254,018, 87% lower than this company's loan of $2M.
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Footnotes & Information
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