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

PPP Loan Data — Agape Plastics, Inc., Grand Rapids, MI

SBA PPP loan data, payroll data, and salaries for Agape Plastics, Inc.
MI

Agape Plastics, Inc.

Entity: Corporation

Industry: All Other Plastics Product Manufacturing

Location: Grand Rapids, MI

Search All PPP Data

Agape Plastics, Inc. is a corporation located at 11474 1st Ave Nw in Grand Rapids, Michigan that received a Coronavirus-related PPP loan from the SBA of $2,470,580.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.47M

Jobs Retained:

230

Loan Approved:

2020-04-08

Lender:

TCF NATIONAL BANK

Agape Plastics, Inc. in Grand Rapids, MI received a Paycheck Protection Loan of $2.47M through TCF NATIONAL BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Agape Plastics, Inc.'s total 2019 payroll expenses were approximately $11.86M in order to qualify for the PPP loan amount received.

Based on their reported 230 jobs retained, this equals an estimated average yearly compensation of $51,560 per employee1.

Because the loan received by Agape Plastics, 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 - Agape Plastics, Inc. in Grand Rapids, MI

Agape Plastics, Inc.
11474 1st Ave Nw
Grand Rapids, MI 49534

Business Industry

All Other Plastics Product Manufacturing (NAICS code 326199)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MI-02

Similar Companies near Grand Rapids

In the Grand Rapids area, 2 businesses in the "All Other Plastics Product Manufacturing" industry received a PPP loan. These local businesses reported an average of 134 employees (compared to this company's 230) and received an average PPP loan of $1,411,139 (compared to this company's $2.47M).

Similar Nearby Businesses Who Received PPP Funding:

Premier Protective Packaging Corp
Grand Rapids, MI

$351,697 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 3,247 businesses in the "All Other Plastics Product Manufacturing" industry received a total of $1,252,980,223.00 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 33 employees, 86% lower than Agape Plastics, Inc.'s reported 230 employees, and received an average PPP loan of $385,889, 84% lower than this company's loan of $2.47M.

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/agape-plastics-inc-grand-rapids-mi