PPP Loan Data — Bayloff Stamped Products Detroit, Inc., Van Buren Twp, MI
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
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.
Business Information - Bayloff Stamped Products Detroit, Inc. in Van Buren Twp, MI
5910 Belleville Rd
Van Buren Twp, MI 48111
Motor Vehicle Metal Stamping (NAICS code 336370)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional 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).
Similar Nearby Businesses Who Received PPP Funding:
Lake Martin Wellington, LLC
Van Buren Twp, MI
Van Buren Twp, MI
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.
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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