PPP Loan Data — Andy J. Egan Co., Inc., Grand Rapids, MI
Andy J. Egan Co., Inc.
Entity: Subchapter S Corporation
Location: Grand Rapids, MITweet This • Search All PPP Data
Andy J. Egan Co., Inc. is a subchapter s corporation located at 2001 Waldorf St Nw in Grand Rapids, Michigan that received a Coronavirus-related PPP loan from the SBA of $6,170,614.00 in April, 2020.
$ PPP Loan Information
Lender:MERCANTILE BANK OF MICHIGAN
Andy J. Egan Co., Inc. in Grand Rapids, MI received a Paycheck Protection Loan of $6.17M through MERCANTILE BANK OF MICHIGAN, which was approved in April, 2020.
Based on standard PPP eligibility rules, Andy J. Egan Co., Inc.'s total 2019 payroll expenses were approximately $29.62M in order to qualify for the PPP loan amount received.
Based on their reported 315 jobs retained, this equals an estimated average yearly compensation of $94,028 per employee1.
Business Information - Andy J. Egan Co., Inc. in Grand Rapids, MI
2001 Waldorf St Nw
Grand Rapids, MI 49544
Plumbing, Heating, and Air-Conditioning Contractors (NAICS code 238220)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: MI-02
Similar Companies near Grand Rapids
In the Grand Rapids area, 5 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a PPP loan. These local businesses reported an average of 89 employees (compared to this company's 315) and received an average PPP loan of $1,745,208 (compared to this company's $6.17M).
Similar Nearby Businesses Who Received PPP Funding:
Evergreen Underground Sprinkling Company
Rite-Way Plumbing & Heating, Inc.
Grand Rapids, MI
Perfect Comfort, Inc.
Grand Rapids, MI
Industry PPP Comparison Statistics
Nationwide, 60,482 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a total of $9,373,583,135.00 in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 11 employees, 97% lower than Andy J. Egan Co., Inc.'s reported 315 employees, and received an average PPP loan of $154,981, 97% lower than this company's loan of $6.17M.
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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