PPP Loan Data — Midwest Concrete Materials, Inc, Manhattan, KS
Midwest Concrete Materials, Inc is a corporation located at 701 S. 4th St. in Manhattan, Kansas that received a Coronavirus-related PPP loan from the SBA of $2,257,400.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Midwest Concrete Materials, Inc in Manhattan, KS received a Paycheck Protection Loan of $2.26M through KS StateBank, 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, Midwest Concrete Materials, Inc's 2019 payroll expenses are estimated to be at least $10.84M.
Based on their reported 188 jobs retained, this equals an estimated average yearly compensation of $57,636 per employee1
Reported PPP Proceed Usage:
On the PPP application, Midwest Concrete Materials, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,257,400
Business Information - Midwest Concrete Materials, Inc in Manhattan, KS
701 S. 4th St.
Manhattan, KS 66502
Ready-Mix Concrete Manufacturing
NAICS code 327320
Business Owner Demographics
Veteran Status: Unreported
Business Age: Change of Ownership
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 1,707 businesses in the "Ready-Mix Concrete Manufacturing" industry received a total of $518.44M 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 26 employees, 86% lower than Midwest Concrete Materials, Inc's reported 188 employees, and received an average PPP loan of $303,712, 87% lower than this company's loan of $2.26M.
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Footnotes & Information
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