PPP Loan Data — Morris Manufacturing And Sales Corporation, Brazil, IN
Morris Manufacturing And Sales Corporation is a subchapter s corporation located at 1015 East Mechanic St in Brazil, Indiana that received a Coronavirus-related PPP loan from the SBA of $1,517,220.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:First Farmers Bank & Trust Co.
Morris Manufacturing And Sales Corporation in Brazil, IN received a Paycheck Protection Loan of $1.52M through First Farmers Bank & Trust Co., which was approved in April, 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, Morris Manufacturing And Sales Corporation's 2019 payroll expenses are estimated to be at least $7.28M.
Based on their reported 176 jobs retained, this equals an estimated average yearly compensation of $41,379 per employee1
Reported PPP Proceed Usage:
On the PPP application, Morris Manufacturing And Sales Corporation reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,517,220
Business Information - Morris Manufacturing And Sales Corporation in Brazil, IN
1015 East Mechanic St
Brazil, IN 47834
Other Metal Valve and Pipe Fitting Manufacturing
NAICS code 332919
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 449 businesses in the "Other Metal Valve and Pipe Fitting Manufacturing" industry received a total of $140.17M 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 26 employees, 85% lower than Morris Manufacturing And Sales Corporation's reported 176 employees, and received an average PPP loan of $312,172, 79% lower than this company's loan of $1.52M.
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Footnotes & Information
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