PPP Loan Data — MOR/Ryde International, Inc., Elkhart, IN
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
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.
Business Information - MOR/Ryde International, Inc. in Elkhart, IN
1966 Sterling Ave
Elkhart, IN 46515
Motor Vehicle Body Manufacturing (NAICS code 336211)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional 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).
Similar Nearby Businesses Who Received PPP Funding:
Mobile Facilities LLC
Midway Specialty Vehicles, LLC
Elkhart Custom Designs
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.
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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