PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — 5508 Inc, Troy, MI

SBA PPP loan data, payroll data, and salaries for 5508 Inc
MI

5508 Inc

Entity: Corporation

Industry: Exterminating and Pest Control Services

Location: Troy, MI

Search All PPP Data

5508 Inc is a corporation located at 1130 Livernois Rd. in Troy, Michigan that received a Coronavirus-related PPP loan from the SBA of $4,260,200.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$4.26M

Jobs Retained:

358

Loan Approved:

2020-04-28

Lender:

COMERICA BANK

5508 Inc in Troy, MI received a Paycheck Protection Loan of $4.26M through COMERICA BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, 5508 Inc's total 2019 payroll expenses were approximately $20.45M in order to qualify for the PPP loan amount received.

Based on their reported 358 jobs retained, this equals an estimated average yearly compensation of $57,120 per employee1.

Because the loan received by 5508 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 - 5508 Inc in Troy, MI

5508 Inc
1130 Livernois Rd.
Troy, MI 48083

Business Industry

Exterminating and Pest Control Services (NAICS code 561710)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MI-11

Similar Companies near Troy

In the Troy area, 3 businesses in the "Exterminating and Pest Control Services" industry received a PPP loan. These local businesses reported an average of 123 employees (compared to this company's 358) and received an average PPP loan of $1,450,033 (compared to this company's $4.26M).

Industry PPP Comparison Statistics

Nationwide, 7,394 businesses in the "Exterminating and Pest Control Services" industry received a total of $589,757,179.00 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 8 employees, 98% lower than 5508 Inc's reported 358 employees, and received an average PPP loan of $79,762, 98% lower than this company's loan of $4.26M.

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.

Search FederalPay's Full PPP Loan Database

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.


Have FederalPay.org's open data tools been valuable? Consider donating!

** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/5508-inc-troy-mi