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PPP Loan Data — Mitchell & Stark Construction Co Inc, Medora, IN

SBA PPP loan data, payroll data, and salaries for Mitchell & Stark Construction Co Inc
IN

Mitchell & Stark Construction Co Inc

Entity: Corporation

Industry: Industrial Building Construction

Location: Medora, IN

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Mitchell & Stark Construction Co Inc is a corporation located at 170 W 1st Street in Medora, Indiana that received a Coronavirus-related PPP loan from the SBA of $3,533,692.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.53M

Jobs Retained:

280

Loan Approved:

2020-04-13

Lender:

OLD NATIONAL BANK

Mitchell & Stark Construction Co Inc in Medora, IN received a Paycheck Protection Loan of $3.53M through OLD NATIONAL BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Mitchell & Stark Construction Co Inc's total 2019 payroll expenses were approximately $16.96M in order to qualify for the PPP loan amount received.

Based on their reported 280 jobs retained, this equals an estimated average yearly compensation of $60,578 per employee1.

Because the loan received by Mitchell & Stark Construction Co Inc is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Mitchell & Stark Construction Co Inc in Medora, IN

Mitchell & Stark Construction Co Inc
170 W 1st Street
Medora, IN 47260

Business Industry

Industrial Building Construction (NAICS code 236210)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: IN-09

Industry PPP Comparison Statistics

Nationwide, 7,553 businesses in the "Industrial Building Construction" industry received a total of $1,532,091,139.00 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 13 employees, 95% lower than Mitchell & Stark Construction Co Inc's reported 280 employees, and received an average PPP loan of $202,845, 94% lower than this company's loan of $3.53M.

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, and is published unmodified, as provided by the SBA.

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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/mitchell-and-stark-construction-co-inc-medora-in