PPP Loan Data — Brittany Lane, Southfield, MI
Entity: Sole Proprietorship
Location: Southfield, MITweet This • Search All PPP Data
Brittany Lane is a sole proprietorship located in Southfield, Michigan that received a Coronavirus-related PPP loan from the SBA of $25,257.00 in June, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Cross River Bank
Brittany Lane in Southfield, MI received a Paycheck Protection Loan of $25,257 through Cross River Bank, which was approved in June, 2020.
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.The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 1 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 1. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
Reported PPP Proceed Usage:
On the PPP application, Brittany Lane reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,257
Business Information - Brittany Lane in Southfield, MI
* Full address is redacted to protect the privacy of individuals.
All Other Professional, Scientific, and Technical Services
NAICS code 541990
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Southfield
In the Southfield area, 35 businesses in the "All Other Professional, Scientific, and Technical Services" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 1) and received an average PPP loan of $40,874 (compared to this company's $25,257).
Similar Nearby Businesses Who Received PPP Funding:
BVK Management LLC
Premier Processing, LLC
Darren Brown Films
Community Business Network, Inc
MDM Designs Inc
Lathrup Village, MI
Shterna S Shmotkin
Precise Financial Services LLC
Industry PPP Comparison Statistics
Nationwide, 129,763 businesses in the "All Other Professional, Scientific, and Technical Services" industry received a total of $7.41B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 5 employees, 400% higher than Brittany Lane's reported 1 employees, and received an average PPP loan of $57,091, 126% higher than this company's loan of $25,257.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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