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PPP Loan Data — Robert Madden Industries, LTD, Lubbock, TX

SBA PPP loan data, payroll data, and salaries for Robert Madden Industries, LTD
TX

Robert Madden Industries, LTD

Entity: Partnership

Industry: Warm Air Heating and Air-Conditioning Equipment and Supplies Merchant Wholesalers

Location: Lubbock, TX

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Robert Madden Industries, LTD is a partnership located at 6021 43rd St in Lubbock, Texas that received a Coronavirus-related PPP loan from the SBA of $2,810,200.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.81M

Jobs Retained:

229

Loan Approved:

2020-04-06

Lender:

CITY BANK

Robert Madden Industries, LTD in Lubbock, TX received a Paycheck Protection Loan of $2.81M through CITY BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Robert Madden Industries, LTD's total 2019 payroll expenses were approximately $13.49M in order to qualify for the PPP loan amount received.

Based on their reported 229 jobs retained, this equals an estimated average yearly compensation of $58,904 per employee1.

Because the loan received by Robert Madden Industries, LTD 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 - Robert Madden Industries, LTD in Lubbock, TX

Robert Madden Industries, LTD
6021 43rd St
Lubbock, TX 79407

Business Industry

Warm Air Heating and Air-Conditioning Equipment and Supplies Merchant Wholesalers (NAICS code 423730)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: TX-19

Industry PPP Comparison Statistics

Nationwide, 1,396 businesses in the "Warm Air Heating and Air-Conditioning Equipment and Supplies Merchant Wholesalers" industry received a total of $430,484,287.00 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 19 employees, 92% lower than Robert Madden Industries, LTD's reported 229 employees, and received an average PPP loan of $308,370, 89% lower than this company's loan of $2.81M.

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, 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 www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/robert-madden-industries-ltd-lubbock-tx