MBC HOLDINGS OF OHIO, INC.
PPP Loan approved Apr 11, 2020 through KeyBank National Association
Borrower Information
Business Details
Lender Information
Self-Reported Demographics
How Proceeds Were Used
| Category | Amount | % of Total Proceeds |
|---|---|---|
| Payroll | $10,000,000.00 | 100.0% |
About This Loan
MBC HOLDINGS OF OHIO, INC. received a PPP loan of $10,000,000 approved on Apr 11, 2020. The loan was originated by KeyBank National Association.
MBC HOLDINGS OF OHIO, INC. is a subchapter s corporation located in ARCHBOLD, Ohio. At the time of the application, the business was described as "unanswered".
The business operates in the Highway, Street, and Bridge Construction industry (NAICS 237310), part of the Construction sector of the economy. The applicant reported 452 jobs as retained through this loan.
The SBA forgave $10,113,972.60 of this loan — 101.1% of the total approved amount, with forgiveness recorded on Jun 11, 2021. This means the borrower was not required to repay this portion, having satisfied the PPP's eligibility criteria for forgiveness, including maintaining payroll levels and using the funds for qualified expenses.
According to the SBA's records, the proceeds of this loan were allocated as follows: $10,000,000 to payroll. The payroll component represents 100.0% of disclosed proceeds, consistent with the program's requirement that at least 60% of loan funds be used for payroll costs to qualify for full forgiveness.
This loan is one of millions approved nationwide during the COVID-19 pandemic. To explore other recipients in Ohio, visit the Ohio page. To compare this loan with others in the same industry, see the Highway, Street, and Bridge Construction industry page.