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PPP Loan Data — Bayloff Stamped Products Detroit, Inc., Van Buren Twp, MI

SBA PPP loan data, payroll data, and salaries for Bayloff Stamped Products Detroit, Inc.
MI

Bayloff Stamped Products Detroit, Inc.

Entity: Corporation

Industry: Motor Vehicle Metal Stamping

Location: Van Buren Twp, MI

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Bayloff Stamped Products Detroit, Inc. is a corporation located at 5910 Belleville Rd in Van Buren Twp, Michigan that received a Coronavirus-related PPP loan from the SBA of $2,613,400.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.61M

Jobs Retained:

205

Loan Approved:

2020-04-07

Lender:

PNC BANK, NATIONAL ASSOCIATION

Bayloff Stamped Products Detroit, Inc. received a Paycheck Protection Loan of $2.61M through PNC BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Bayloff Stamped Products Detroit, Inc.'s total 2019 payroll expenses were approximately $12.54M in order to qualify for the PPP loan amount received.

Based on their reported 205 jobs retained, this equals an estimated average yearly compensation of $61,192 per employee1.

Because the loan received by Bayloff Stamped Products Detroit, 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 - Bayloff Stamped Products Detroit, Inc. in Van Buren Twp, MI

Bayloff Stamped Products Detroit, Inc.
5910 Belleville Rd
Van Buren Twp, MI 48111

Business Industry

Motor Vehicle Metal Stamping (NAICS code 336370)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MI-12

Similar Companies near Van Buren Twp

In the Van Buren Twp area, 3 businesses in the "Motor Vehicle Metal Stamping" industry received a PPP loan. These local businesses reported an average of 117 employees (compared to this company's 205) and received an average PPP loan of $1,641,634 (compared to this company's $2.61M).

Industry PPP Comparison Statistics

Nationwide, 197 businesses in the "Motor Vehicle Metal Stamping" industry received a total of $211,847,677.00 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 76 employees, 63% lower than Bayloff Stamped Products Detroit, Inc.'s reported 205 employees, and received an average PPP loan of $1.08M, 59% lower than this company's loan of $2.61M.

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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) 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.


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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/bayloff-stamped-products-detroit-inc-van-buren-twp-mi