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PPP Loan Data — Mutual Materials Company, Bellevue, WA

SBA PPP loan data, payroll data, and salaries for Mutual Materials Company
WA

Mutual Materials Company

Entity: Corporation

Industry: Concrete Block and Brick Manufacturing

Location: Bellevue, WA

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Mutual Materials Company is a corporation located at 605 119th Avenue Ne in Bellevue, Washington that received a Coronavirus-related PPP loan from the SBA of $6,250,000.00 in April, 2020.

The company has reported itself as a male owned business, and employed at least 453 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$6.25M

Jobs Retained:

453

Loan Approved:

2020-04-11

Lender:

ZIONS BANK, A DIVISION OF

Mutual Materials Company in Bellevue, WA received a Paycheck Protection Loan of $6.25M through ZIONS BANK, A DIVISION OF, which was approved in April, 2020.

Based on standard PPP eligibility rules, Mutual Materials Company's total 2019 payroll expenses were approximately $30M in order to qualify for the PPP loan amount received.

Based on their reported 453 jobs retained, this equals an estimated average yearly compensation of $66,225 per employee1.

Because the loan received by Mutual Materials Company 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 - Mutual Materials Company in Bellevue, WA

Mutual Materials Company
605 119th Avenue Ne
Bellevue, WA 98005

Business Industry

Concrete Block and Brick Manufacturing (NAICS code 327331)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: MALE OWNED

Veteran Status: Unreported

Congressional District: WA-09

Industry PPP Comparison Statistics

Nationwide, 360 businesses in the "Concrete Block and Brick Manufacturing" industry received a total of $108,298,175.00 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 23 employees, 95% lower than Mutual Materials Company's reported 453 employees, and received an average PPP loan of $300,828, 95% lower than this company's loan of $6.25M.

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/mutual-materials-company-bellevue-wa