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PPP Loan Data — Andersen Associates, Inc., Wixom, MI

SBA PPP loan data, payroll data, and salaries for Andersen Associates, Inc.
MI

Andersen Associates, Inc.

Entity: Subchapter S Corporation

Industry: Industrial Machinery and Equipment Merchant Wholesalers

Location: Wixom, MI

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Andersen Associates, Inc. is a subchapter s corporation located at 30575 Andersen Court in Wixom, Michigan that received a Coronavirus-related PPP loan from the SBA of $3,839,800.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.84M

Jobs Retained:

242

Loan Approved:

2020-04-28

Lender:

COMERICA BANK

Andersen Associates, Inc. in Wixom, MI received a Paycheck Protection Loan of $3.84M through COMERICA BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Andersen Associates, Inc.'s total 2019 payroll expenses were approximately $18.43M in order to qualify for the PPP loan amount received.

Based on their reported 242 jobs retained, this equals an estimated average yearly compensation of $76,161 per employee1.

Because the loan received by Andersen Associates, 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 - Andersen Associates, Inc. in Wixom, MI

Andersen Associates, Inc.
30575 Andersen Court
Wixom, MI 48393

Business Industry

Industrial Machinery and Equipment Merchant Wholesalers (NAICS code 423830)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MI-11

Similar Companies near Wixom

In the Wixom area, 16 businesses in the "Industrial Machinery and Equipment Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 28 employees (compared to this company's 242) and received an average PPP loan of $483,224 (compared to this company's $3.84M).

Industry PPP Comparison Statistics

Nationwide, 7,320 businesses in the "Industrial Machinery and Equipment Merchant Wholesalers" industry received a total of $1,713,685,837.00 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 15 employees, 94% lower than Andersen Associates, Inc.'s reported 242 employees, and received an average PPP loan of $234,110, 94% lower than this company's loan of $3.84M.

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/andersen-associates-inc-wixom-mi