PPP Loan Data — Midland Garage Door Manfacturing Company, West Fargo, ND
Midland Garage Door Manfacturing Company is a corporation located at 675 12th Ave in West Fargo, North Dakota that received a Coronavirus-related PPP loan from the SBA of $1,672,100.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Midland Garage Door Manfacturing Company in West Fargo, ND received a Paycheck Protection Loan of $1.67M through Bell 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, Midland Garage Door Manfacturing Company's 2019 payroll expenses are estimated to be at least $8.03M.
Based on their reported 148 jobs retained, this equals an estimated average yearly compensation of $54,230 per employee1
Reported PPP Proceed Usage:
On the PPP application, Midland Garage Door Manfacturing Company reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,672,100
Business Information - Midland Garage Door Manfacturing Company in West Fargo, ND
675 12th Ave
West Fargo, ND 58078
Metal Window and Door Manufacturing
NAICS code 332321
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near West Fargo
In the West Fargo area, 2 businesses in the "Metal Window and Door Manufacturing" industry received a PPP loan. These local businesses reported an average of 82 employees (compared to this company's 148) and received an average PPP loan of $948,250 (compared to this company's $1.67M).
Similar Nearby Businesses Who Received PPP Funding:
West Fargo, ND
Industry PPP Comparison Statistics
Nationwide, 1,499 businesses in the "Metal Window and Door Manufacturing" industry received a total of $362.52M 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 23 employees, 84% lower than Midland Garage Door Manfacturing Company's reported 148 employees, and received an average PPP loan of $241,838, 86% lower than this company's loan of $1.67M.
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Footnotes & Information
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