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PPP Loan Data — The Mcalear Group, Inc, Maumee, OH

SBA PPP loan data, payroll data, and salaries for The Mcalear Group, Inc
OH

The Mcalear Group, Inc

Entity: Corporation

Industry: Spring Manufacturing

Location: Maumee, OH

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The Mcalear Group, Inc is a corporation located at 1703 Toll Gate Dr in Maumee, Ohio that received a Coronavirus-related PPP loan from the SBA of $2,931,753.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.93M

Jobs Retained:

205

Loan Approved:

2020-04-10

Lender:

FIFTH THIRD BANK

The Mcalear Group, Inc in Maumee, OH received a Paycheck Protection Loan of $2.93M through FIFTH THIRD BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, The Mcalear Group, Inc's total 2019 payroll expenses were approximately $14.07M in order to qualify for the PPP loan amount received.

Based on their reported 205 jobs retained, this equals an estimated average yearly compensation of $68,646 per employee1.

Because the loan received by The Mcalear Group, 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 - The Mcalear Group, Inc in Maumee, OH

The Mcalear Group, Inc
1703 Toll Gate Dr
Maumee, OH 43537

Business Industry

Spring Manufacturing (NAICS code 332613)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: OH-05

Similar Companies near Maumee

In the Maumee area, 2 businesses in the "Spring Manufacturing" industry received a PPP loan. These local businesses reported an average of 114 employees (compared to this company's 205) and received an average PPP loan of $1,612,726 (compared to this company's $2.93M).

Similar Nearby Businesses Who Received PPP Funding:

Service Spring West, Inc.
Maumee, OH

$293,698 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 198 businesses in the "Spring Manufacturing" industry received a total of $96,911,372.00 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 34 employees, 83% lower than The Mcalear Group, Inc's reported 205 employees, and received an average PPP loan of $489,451, 83% lower than this company's loan of $2.93M.

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/the-mcalear-group-inc-maumee-oh