PPP Loan Data — O E Meyer Co, Sandusky, OH
O E Meyer Co is a corporation located at 3303 Tiffin Ave in Sandusky, Ohio that received a Coronavirus-related PPP loan from the SBA of $2,093,100.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Fifth Third Bank
O E Meyer Co in Sandusky, OH received a Paycheck Protection Loan of $2.09M through Fifth Third Bank, 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, O E Meyer Co's 2019 payroll expenses are estimated to be at least $10.05M.
Based on their reported 112 jobs retained, this equals an estimated average yearly compensation of $89,704 per employee1
Reported PPP Proceed Usage:
On the PPP application, O E Meyer Co reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,093,100
Business Information - O E Meyer Co in Sandusky, OH
3303 Tiffin Ave
Sandusky, OH 44870
Industrial Supplies Merchant Wholesalers
NAICS code 423840
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 6,397 businesses in the "Industrial Supplies Merchant Wholesalers" industry received a total of $1.02B 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 13 employees, 88% lower than O E Meyer Co's reported 112 employees, and received an average PPP loan of $160,215, 92% lower than this company's loan of $2.09M.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!