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PPP Loan Data — MOR/Ryde International, Inc., Elkhart, IN

SBA PPP loan data, payroll data, and salaries for MOR/Ryde International, Inc.
IN

MOR/Ryde International, Inc.

Entity: Professional Association

Industry: Motor Vehicle Body Manufacturing

Location: Elkhart, IN

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MOR/Ryde International, Inc. is a professional association located at 1966 Sterling Ave in Elkhart, Indiana that received a Coronavirus-related PPP loan from the SBA of $3,000,000.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3M

Jobs Retained:

500

Loan Approved:

2020-04-08

Lender:

1ST SOURCE BANK

MOR/Ryde International, Inc. in Elkhart, IN received a Paycheck Protection Loan of $3M through 1ST SOURCE BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, MOR/Ryde International, Inc.'s total 2019 payroll expenses were approximately $14.4M 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 $28,800 per employee1.

Because the loan received by MOR/Ryde International, 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 - MOR/Ryde International, Inc. in Elkhart, IN

MOR/Ryde International, Inc.
1966 Sterling Ave
Elkhart, IN 46515

Business Industry

Motor Vehicle Body Manufacturing (NAICS code 336211)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: IN-02

Similar Companies near Elkhart

In the Elkhart area, 4 businesses in the "Motor Vehicle Body Manufacturing" industry received a PPP loan. These local businesses reported an average of 142 employees (compared to this company's 500) and received an average PPP loan of $939,525 (compared to this company's $3M).

Industry PPP Comparison Statistics

Nationwide, 475 businesses in the "Motor Vehicle Body Manufacturing" industry received a total of $184,907,694.00 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 32 employees, 94% lower than MOR/Ryde International, Inc.'s reported 500 employees, and received an average PPP loan of $389,279, 87% lower than this company's loan of $3M.

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/mor-ryde-international-inc-elkhart-in