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PPP Loan Data — Modern Office Methods Inc, Blue Ash, OH

SBA PPP loan data, payroll data, and salaries for Modern Office Methods Inc
OH

Modern Office Methods Inc

Entity: Subchapter S Corporation

Industry: Office Equipment Merchant Wholesalers

Location: Blue Ash, OH

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Modern Office Methods Inc is a subchapter s corporation located at 4747 Lake Forest Dr, Ste 200 in Blue Ash, Ohio that received a Coronavirus-related PPP loan from the SBA of $2,684,600.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.68M

Jobs Retained:

204

Loan Approved:

2020-04-15

Lender:

PNC BANK, NATIONAL ASSOCIATION

Modern Office Methods Inc received a Paycheck Protection Loan of $2.68M through PNC BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Modern Office Methods Inc's total 2019 payroll expenses were approximately $12.89M in order to qualify for the PPP loan amount received.

Based on their reported 204 jobs retained, this equals an estimated average yearly compensation of $63,167 per employee1.

Because the loan received by Modern Office Methods 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 - Modern Office Methods Inc in Blue Ash, OH

Modern Office Methods Inc
4747 Lake Forest Dr, Ste 200
Blue Ash, OH 45242

Business Industry

Office Equipment Merchant Wholesalers (NAICS code 423420)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: OH-01

Similar Companies near Blue Ash

In the Blue Ash area, 2 businesses in the "Office Equipment Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 189 employees (compared to this company's 204) and received an average PPP loan of $2,676,547 (compared to this company's $2.68M).

Similar Nearby Businesses Who Received PPP Funding:

Loth Holdings, LLC
Cincinnati, OH

$2.67M PPP Loan

Industry PPP Comparison Statistics

Nationwide, 1,297 businesses in the "Office Equipment Merchant Wholesalers" industry received a total of $267,348,840.00 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, 93% lower than Modern Office Methods Inc's reported 204 employees, and received an average PPP loan of $206,129, 92% lower than this company's loan of $2.68M.

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.

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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/modern-office-methods-inc-blue-ash-oh