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PPP Loan Data — Midwest Tool & Supply Co., Maryland Heights, MO

SBA PPP loan data, payroll data, and salaries for Midwest Tool & Supply Co.
MO

Midwest Tool & Supply Co.

Entity: Subchapter S Corporation

Industry: Industrial Machinery and Equipment Merchant Wholesalers

Location: Maryland Heights, MO

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Midwest Tool & Supply Co. is a subchapter s corporation located at 81 Weldon Pkwy in Maryland Heights, Missouri that received a Coronavirus-related PPP loan from the SBA of $94,900.00 in April, 2020.

The company has reported itself as a male owned business, and employed at least eleven people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$94,900

Jobs Retained:

11

Loan Approved:

2020-04-07

Lender:

CASS COMMERCIAL BANK

Midwest Tool & Supply Co. received a Paycheck Protection Loan of $94,900 through CASS COMMERCIAL BANK, which was approved in April, 2020.

2019 Payroll Estimations based On PPP Amount:

Assuming all employees were paid over the $100k eligibility cap, the minimum number of employees this company must have had in 2019 to qualify for the loan range received is 0.

Based on standard PPP eligibility rules, Midwest Tool & Supply Co.'s total 2019 payroll expenses were approximately $455,520 in order to qualify for the PPP loan amount received.

Based on their reported 11 jobs retained, this equals an estimated average yearly compensation of $41,411 per employee1.

Business Information - Midwest Tool & Supply Co. in Maryland Heights, MO

Midwest Tool & Supply Co.
81 Weldon Pkwy
Maryland Heights, MO 63043

Business Industry

Industrial Machinery and Equipment Merchant Wholesalers (NAICS code 423830)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: MALE OWNED

Veteran Status: Unreported

Congressional District: MO-01

Similar Companies near Maryland Heights

In the Maryland Heights area, 11 businesses in the "Industrial Machinery and Equipment Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 41 employees (compared to this company's 11) and received an average PPP loan of $793,367 (compared to this company's $94,900).

Industry PPP Comparison Statistics

Nationwide, 7,320 businesses in the "Industrial Machinery and Equipment Merchant Wholesalers" industry received a total of $1,713,685,837.00 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 15 employees, 36% higher than Midwest Tool & Supply Co.'s reported 11 employees, and received an average PPP loan of $234,110, 147% higher than this company's loan of $94,900.

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. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

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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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/midwest-tool-and-supply-co-maryland-heights-mo