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PPP Loan Data — Momentum Manfacturing Group LLC, Saint Johnsbury, VT

SBA PPP loan data, payroll data, and salaries for Momentum Manfacturing Group LLC
VT

Momentum Manfacturing Group LLC

Entity: Limited Liability Company (LLC)

Industry: Machine Shops

Location: Saint Johnsbury, VT

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Momentum Manfacturing Group LLC is a limited liability company (LLC) located at 210 Pierce Rd in Saint Johnsbury, Vermont that received a Coronavirus-related PPP loan from the SBA of $5,585,110.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$5.59M

Jobs Retained:

500

Loan Approved:

2020-04-05

Lender:

WINTRUST BANK, NATIONAL ASSOCIATION

Momentum Manfacturing Group LLC in Saint Johnsbury, VT received a Paycheck Protection Loan of $5.59M through WINTRUST BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Momentum Manfacturing Group LLC's total 2019 payroll expenses were approximately $26.81M in order to qualify for the PPP loan amount received.

Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $53,617 per employee1.

Because the loan received by Momentum Manfacturing Group LLC 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 - Momentum Manfacturing Group LLC in Saint Johnsbury, VT

Momentum Manfacturing Group LLC
210 Pierce Rd
Saint Johnsbury, VT 05819

Business Industry

Machine Shops (NAICS code 332710)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: VT-

Similar Companies near Saint Johnsbury

In the Saint Johnsbury area, 2 businesses in the "Machine Shops" industry received a PPP loan. These local businesses reported an average of 252 employees (compared to this company's 500) and received an average PPP loan of $2,808,805 (compared to this company's $5.59M).

Similar Nearby Businesses Who Received PPP Funding:

T J Mold & Tool
Saint Johnsbury, VT

$32,500 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 9,651 businesses in the "Machine Shops" industry received a total of $1,842,411,346.00 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 14 employees, 97% lower than Momentum Manfacturing Group LLC's reported 500 employees, and received an average PPP loan of $190,904, 97% lower than this company's loan of $5.59M.

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.

Search FederalPay's Full PPP Loan Database

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/momentum-manfacturing-group-llc-saint-johnsbury-vt