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PPP Loan Data — SMW Mfs, Inc., Taylor, MI

SBA PPP loan data, payroll data, and salaries for SMW Mfs, Inc.
MI

SMW Mfs, Inc.

Entity: Subchapter S Corporation

Industry: Machine Shops

Location: Taylor, MI

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SMW Mfs, Inc. is a subchapter s corporation located at 25575 Brest Rd in Taylor, Michigan that received a Coronavirus-related PPP loan from the SBA of $3,607,600.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.61M

Jobs Retained:

193

Loan Approved:

2020-04-12

Lender:

COMERICA BANK

SMW Mfs, Inc. in Taylor, MI received a Paycheck Protection Loan of $3.61M through COMERICA BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, SMW Mfs, Inc.'s total 2019 payroll expenses were approximately $17.32M in order to qualify for the PPP loan amount received.

Based on their reported 193 jobs retained, this equals an estimated average yearly compensation of $89,723 per employee1.

Because the loan received by SMW Mfs, 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 - SMW Mfs, Inc. in Taylor, MI

SMW Mfs, Inc.
25575 Brest Rd
Taylor, MI 48180

Business Industry

Machine Shops (NAICS code 332710)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MI-12

Similar Companies near Taylor

In the Taylor area, 9 businesses in the "Machine Shops" industry received a PPP loan. These local businesses reported an average of 26 employees (compared to this company's 193) and received an average PPP loan of $457,565 (compared to this company's $3.61M).

Industry PPP Comparison Statistics

Nationwide, 9,651 businesses in the "Machine Shops" industry received a total of $1,842,411,346.00 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, 93% lower than SMW Mfs, Inc.'s reported 193 employees, and received an average PPP loan of $190,904, 95% lower than this company's loan of $3.61M.

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/smw-mfs-inc-taylor-mi