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PPP Loan Data — Robert Madden Industries, LTD,
Lubbock, 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:
Jobs Retained:
229Loan Approved:
2020-04-06Lender:
CITY BANKRobert 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.
Business Information - Robert Madden Industries, LTD in Lubbock, TX
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-19Industry 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.
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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