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PPP Loan Data — Big Rapids Products, Inc., Big Rapids, MI

SBA PPP loan data, payroll data, and salaries for Big Rapids Products, Inc.
MI

Big Rapids Products, Inc.

Entity: Subchapter S Corporation

Industry: Metal Crown, Closure, and Other Metal Stamping (except Automotive)

Location: Big Rapids, MI

Search All PPP Data

Big Rapids Products, Inc. is a subchapter s corporation located at 1313 Maple St in Big Rapids, Michigan that received a Coronavirus-related PPP loan from the SBA of $2,861,283.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.86M

Jobs Retained:

351

Loan Approved:

2020-04-14

Lender:

TCF NATIONAL BANK

Big Rapids Products, Inc. received a Paycheck Protection Loan of $2.86M through TCF NATIONAL BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Big Rapids Products, Inc.'s total 2019 payroll expenses were approximately $13.73M in order to qualify for the PPP loan amount received.

Based on their reported 351 jobs retained, this equals an estimated average yearly compensation of $39,129 per employee1.

Because the loan received by Big Rapids Products, 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 - Big Rapids Products, Inc. in Big Rapids, MI

Big Rapids Products, Inc.
1313 Maple St
Big Rapids, MI 49307

Business Industry

Metal Crown, Closure, and Other Metal Stamping (except Automotive) (NAICS code 332119)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MI-04

Similar Companies near Big Rapids

In the Big Rapids area, 2 businesses in the "Metal Crown, Closure, and Other Metal Stamping (except Automotive)" industry received a PPP loan. These local businesses reported an average of 182 employees (compared to this company's 351) and received an average PPP loan of $1,531,792 (compared to this company's $2.86M).

Similar Nearby Businesses Who Received PPP Funding:

KB Stamping, Inc.
Belmont, MI

$202,300 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 688 businesses in the "Metal Crown, Closure, and Other Metal Stamping (except Automotive)" industry received a total of $316,503,616.00 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 35 employees, 90% lower than Big Rapids Products, Inc.'s reported 351 employees, and received an average PPP loan of $460,034, 84% lower than this company's loan of $2.86M.

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/big-rapids-products-inc-big-rapids-mi