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PPP Loan Data — Midwest Tape, LLC,
Holland, OH
Midwest Tape, LLC
Entity: Limited Liability Company (LLC)
Industry: Other Miscellaneous Durable Goods Merchant Wholesalers
Location: Holland, OH
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Midwest Tape, LLC is a limited liability company (LLC) located at 1417 Timber Wolf Drive in Holland, Ohio that received a Coronavirus-related PPP loan from the SBA of $4,260,000.00 in April, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
390Loan Approved:
2020-04-12Lender:
KEYBANK NATIONAL ASSOCIATIONMidwest Tape, LLC received a Paycheck Protection Loan of $4.26M through KEYBANK NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Midwest Tape, LLC's total 2019 payroll expenses were approximately $20.45M in order to qualify for the PPP loan amount received.
Based on their reported 390 jobs retained, this equals an estimated average yearly compensation of $52,431 per employee1.
Business Information - Midwest Tape, LLC in Holland, OH
1417 Timber Wolf Drive
Holland, OH 43528
Business Industry
Other Miscellaneous Durable Goods Merchant Wholesalers (NAICS code 423990)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: OH-05Industry PPP Comparison Statistics
Nationwide, 12,909 businesses in the "Other Miscellaneous Durable Goods Merchant Wholesalers" industry received a total of $1,253,322,545.00 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 8 employees, 98% lower than Midwest Tape, LLC's reported 390 employees, and received an average PPP loan of $97,089, 98% lower than this company's loan of $4.26M.
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.
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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