PPP Loan Data — Agape Plastics, Inc., Grand Rapids, MI
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
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.
Business Information - Agape Plastics, Inc. in Grand Rapids, MI
11474 1st Ave Nw
Grand Rapids, MI 49534
All Other Plastics Product Manufacturing (NAICS code 326199)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional 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
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.
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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