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PPP Loan Data — Bouma Group Inc,
Grand Rapids, MI
Bouma Group Inc
Entity: Corporation
Industry: Drywall and Insulation Contractors
Location: Grand Rapids, MI
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Bouma Group Inc is a corporation located at 4101 Roger B Chaffee Mem Dr Se in Grand Rapids, Michigan that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in April, 2021.
The company has reported itself as a White male owned business, and employed at least 243 people during the applicable loan loan period.
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PPP Loan Information
Loan #4991118705
Loan Size:
Jobs Retained:
243Loan Approved:
2021-04-02Loan Status:
Ongoing LoanLender:
Macatawa BankBouma Group Inc in Grand Rapids, MI received a Paycheck Protection Loan of $2M through Macatawa Bank, which was approved in April, 2021.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, Bouma Group Inc's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 243 jobs retained, this equals an estimated average yearly compensation of $39,506 per employee1
Reported PPP Proceed Usage:
On the PPP application, Bouma Group Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,999
Business Information - Bouma Group Inc in Grand Rapids, MI
4101 Roger B Chaffee Mem Dr Se
Grand Rapids, MI 49548
Business Industry:
Drywall and Insulation Contractors
NAICS code 238310
Business Owner Demographics
Race: White
Ethnicity: Unreported
Gender: Male Owned
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: Y
Rural / Urban: Urban
Similar Companies near Grand Rapids
In the Grand Rapids area, 8 businesses in the "Drywall and Insulation Contractors" industry received a PPP loan. These local businesses reported an average of 39 employees (compared to this company's 243) and received an average PPP loan of $361,015 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
RG Drywall LLC
Grand Rapids, MI
SJD Acquisition LLC
Wyoming, MI
SJD Acquisition LLC
Grand Rapids, MI
Jason Veldhuis
Grand Rapids, MI
D9 Systems Inc
Grand Rapids, MI
Heyboer & Bolt Ceiling & Ceramics, Inc
Wyoming, MI
Travis Cole
Grand Rapids, MI
Industry PPP Comparison Statistics
Nationwide, 18,487 businesses in the "Drywall and Insulation Contractors" industry received a total of $2.42B in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 11 employees, 95% lower than Bouma Group Inc's reported 243 employees, and received an average PPP loan of $130,832, 93% lower than this company's loan of $2M.
Bouma Group, Inc
Entity: Corporation
Industry: Commercial and Institutional Building Construction
Location: Grand Rapids, MI
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Bouma Group, Inc is a corporation located at 4101 Roger B Chaffee Mem Dr in Grand Rapids, Michigan that received a Coronavirus-related PPP loan from the SBA of $3,971,100.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 282 people during the applicable loan loan period.
$
PPP Loan Information
Loan #4667947001
Loan Size:
Jobs Retained:
282Loan Approved:
2020-04-04Loan Status:
Paid in Full or ForgivenLender:
Macatawa BankBouma Group, Inc in Grand Rapids, MI received a Paycheck Protection Loan of $3.97M through Macatawa Bank, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in July, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, Bouma Group, Inc's 2019 payroll expenses are estimated to be at least $19.06M.
Based on their reported 282 jobs retained, this equals an estimated average yearly compensation of $67,593 per employee1
Reported PPP Proceed Usage:
On the PPP application, Bouma Group, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $3,971,100
Business Information - Bouma Group, Inc in Grand Rapids, MI
4101 Roger B Chaffee Mem Dr
Grand Rapids, MI 49548
Business Industry:
Commercial and Institutional Building Construction
NAICS code 236220
Business Owner Demographics
Race: White
Ethnicity: Unreported
Gender: Male Owned
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: N
Rural / Urban: Urban
Similar Companies near Grand Rapids
In the Grand Rapids area, 15 businesses in the "Commercial and Institutional Building Construction" industry received a PPP loan. These local businesses reported an average of 45 employees (compared to this company's 282) and received an average PPP loan of $656,117 (compared to this company's $3.97M).
Similar Nearby Businesses Who Received PPP Funding:
James S. Riemersma Construction Services Inc
Grand Rapids, MI
D&D Building, Inc
Grand Rapids, MI
Kimberli Gonzalez-Reyes
Grand Rapids, MI
DE Jager Construction Incorporated
Grand Rapids, MI
Beckering Advisor, Inc
Grand Rapids, MI
Jarvis Friend
Grand Rapids, MI
Newco Design Build LLC
Grand Rapids, MI
DE Jager Construction, Incorporated
Wyoming, MI
Calstra LLC
Wyoming, MI
Industry PPP Comparison Statistics
Nationwide, 77,396 businesses in the "Commercial and Institutional Building Construction" industry received a total of $12.37B in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 12 employees, 96% lower than Bouma Group, Inc's reported 282 employees, and received an average PPP loan of $159,889, 96% lower than this company's loan of $3.97M.
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. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
Footnotes & Information
1. Estimations for informational purposes only. 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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