PPP Loan Data — Bluewater Technologies, Southfield, MI
Bluewater Technologies is a corporation located at 24050 Northwestern Hwy in Southfield, Michigan that received a Coronavirus-related PPP loan from the SBA of $3,711,600.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 215 people during the applicable loan loan period.
$ PPP Loan Information
Lender:CAPITOL NATIONAL BANK
Bluewater Technologies in Southfield, MI received a Paycheck Protection Loan of $3.71M through CAPITOL NATIONAL BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Bluewater Technologies' total 2019 payroll expenses were approximately $17.82M in order to qualify for the PPP loan amount received.
Based on their reported 215 jobs retained, this equals an estimated average yearly compensation of $82,864 per employee1.
Business Information - Bluewater Technologies in Southfield, MI
24050 Northwestern Hwy
Southfield, MI 48075
All Other Telecommunications (NAICS code 517919)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: MALE OWNED
Veteran Status: UnreportedCongressional District: MI-14
Similar Companies near Southfield
In the Southfield area, 4 businesses in the "All Other Telecommunications" industry received a PPP loan. These local businesses reported an average of 59 employees (compared to this company's 215) and received an average PPP loan of $991,862 (compared to this company's $3.71M).
Similar Nearby Businesses Who Received PPP Funding:
Your Wired Solutions LLC
Kinnie Media Group, LLC
Lathrup Vlg, MI
Viki Technologies, LLC
Industry PPP Comparison Statistics
Nationwide, 6,603 businesses in the "All Other Telecommunications" industry received a total of $691,992,618.00 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 8 employees, 96% lower than Bluewater Technologies' reported 215 employees, and received an average PPP loan of $104,800, 97% lower than this company's loan of $3.71M.
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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