PPP Loan Data — Mj10 Inc, Tualatin, OR
Mj10 Inc is a corporation located at 17937 Sw Mc Ewan Road Suite 100 in Tualatin, Oregon that received a Coronavirus-related PPP loan from the SBA of $24,978.00 in May, 2020.
The company has reported itself as a male owned business, and employed at least five people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Wells Fargo Bank, National Association
Mj10 Inc in Tualatin, OR received a Paycheck Protection Loan of $24,978 through Wells Fargo Bank, National Association, which was approved in May, 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, Mj10 Inc's 2019 payroll expenses are estimated to be at least $119,894.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $23,979 per employee1
Reported PPP Proceed Usage:
On the PPP application, Mj10 Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,978
Business Information - Mj10 Inc in Tualatin, OR
17937 Sw Mc Ewan Road Suite 100
Tualatin, OR 97224
NAICS code 453991
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Tualatin
In the Tualatin area, 3 businesses in the "Tobacco Stores" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 5) and received an average PPP loan of $17,151 (compared to this company's $24,978).
Similar Nearby Businesses Who Received PPP Funding:
K C Trading LLC
SB Portland LLC
Industry PPP Comparison Statistics
Nationwide, 8,306 businesses in the "Tobacco Stores" industry received a total of $235.12M 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 5 employees, the same amount reported by Mj10 Inc and received an average PPP loan of $28,307, 13% higher than this company's loan of $24,978.
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