PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

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

ALERT: There are 2 PPP loans for a total of $189,810 in our database for businesses with the name "Midwest Tool & Supply Co" in Maryland Heights, MO. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

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

Midwest Tool & Supply Co

Entity: Subchapter S Corporation

Industry: Machine Tool Manufacturing

Location: Maryland Heights, MO

Search All PPP Data

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 $94,910.00 in February, 2021.

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 #7196308403

Loan Size:

$94,910

Jobs Retained:

11

Loan Approved:

2021-02-11

Loan Status:

Ongoing Loan

Lender:

Cass Commercial Bank

Midwest Tool & Supply Co in Maryland Heights, MO received a Paycheck Protection Loan of $94,910 through Cass Commercial Bank, which was approved in February, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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 Tool & Supply Co's 2019 payroll expenses are estimated to be at least $455,568.

Based on their reported 11 jobs retained, this equals an estimated average yearly compensation of $41,415 per employee1

Reported PPP Proceed Usage:

On the PPP application, Midwest Tool & Supply Co reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $94,908
  • Utilities: $1

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

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

Business Industry:
Machine Tool Manufacturing
NAICS code 333517

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Male Owned

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Saint Louis County, MO — SBA Office 0768 — Congressional District: MO-01

Industry PPP Comparison Statistics

Nationwide, 4,545 businesses in the "Machine Tool Manufacturing" industry received a total of $697.75M 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 13 employees, 18% higher than Midwest Tool & Supply Co's reported 11 employees, and received an average PPP loan of $153,520, 62% higher than this company's loan of $94,910.

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

Search All PPP Data

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 #6707567010

Loan Size:

$94,900

Jobs Retained:

11

Loan Approved:

2020-04-07

Loan Status:

Paid in Full or Forgiven

Lender:

Cass Commercial Bank

Midwest Tool & Supply Co in Maryland Heights, MO received a Paycheck Protection Loan of $94,900 through Cass Commercial Bank, which was approved in April, 2020.

This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in December, 2020.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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 Tool & Supply Co's 2019 payroll expenses are estimated to be at least $455,520.

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

Reported PPP Proceed Usage:

On the PPP application, Midwest Tool & Supply Co reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $94,900

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: Unreported

Ethnicity: Unreported

Gender: Male Owned

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Saint Louis County, MO — SBA Office 0768 — Congressional District: MO-01

Similar Companies near Maryland Heights

In the Maryland Heights area, 17 businesses in the "Industrial Machinery and Equipment Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 47 employees (compared to this company's 11) and received an average PPP loan of $714,061 (compared to this company's $94,900).

Industry PPP Comparison Statistics

Nationwide, 16,958 businesses in the "Industrial Machinery and Equipment Merchant Wholesalers" industry received a total of $2.53B 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 12 employees, 9% higher than Midwest Tool & Supply Co's reported 11 employees, and received an average PPP loan of $149,142, 57% 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.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. 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-supply-co-maryland-heights-mo