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PPP Loan Data — MTM Acquisition, Inc., South Portland, ME

SBA PPP loan data, payroll data, and salaries for MTM Acquisition, Inc.

MTM Acquisition, Inc.

Entity: Corporation

Industry: Newspaper Publishers

Location: South Portland, ME

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MTM Acquisition, Inc. is a corporation located at 295 Gannett Drive in South Portland, Maine that received a Coronavirus-related PPP loan from the SBA of $3,812,900.00 in April, 2020.

$ PPP Loan Information

Loan Size:


Jobs Retained:


Loan Approved:




MTM Acquisition, Inc. received a Paycheck Protection Loan of $3.81M through BANK OF NEW HAMPSHIRE, which was approved in April, 2020.

Based on standard PPP eligibility rules, MTM Acquisition, Inc.'s total 2019 payroll expenses were approximately $18.3M in order to qualify for the PPP loan amount received.

Based on their reported 294 jobs retained, this equals an estimated average yearly compensation of $62,251 per employee1.

Because the loan received by MTM Acquisition, 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 - MTM Acquisition, Inc. in South Portland, ME

MTM Acquisition, Inc.
295 Gannett Drive
South Portland, ME 4106

Business Industry

Newspaper Publishers (NAICS code 511110)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: ME-01

Similar Companies near South Portland

In the South Portland area, 2 businesses in the "Newspaper Publishers" industry received a PPP loan. These local businesses reported an average of 151 employees (compared to this company's 294) and received an average PPP loan of $1,944,000 (compared to this company's $3.81M).

Similar Nearby Businesses Who Received PPP Funding:

New Portland Publishing, Inc
Falmouth, ME

$75,100 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 2,840 businesses in the "Newspaper Publishers" industry received a total of $401,663,111.00 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, 95% lower than MTM Acquisition, Inc.'s reported 294 employees, and received an average PPP loan of $141,431, 96% lower than this company's loan of $3.81M.

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 - The Civil Employee's Resource **