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PPP Loan Data — Bluewater Technologies, Southfield, MI

SBA PPP loan data, payroll data, and salaries for Bluewater Technologies
MI

Bluewater Technologies

Entity: Corporation

Industry: All Other Telecommunications

Location: Southfield, MI

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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

Loan Size:

$3.71M

Jobs Retained:

215

Loan Approved:

2020-04-29

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.

Because the loan received by Bluewater Technologies 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 - Bluewater Technologies in Southfield, MI

Bluewater Technologies
24050 Northwestern Hwy
Southfield, MI 48075

Business Industry

All Other Telecommunications (NAICS code 517919)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: MALE OWNED

Veteran Status: Unreported

Congressional 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).

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.

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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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Source: www.federalpay.org/paycheck-protection-program/bluewater-technologies-southfield-mi