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PPP Loan Data — Buist Electric, Inc., Byron Center, MI

SBA PPP loan data, payroll data, and salaries for Buist Electric, Inc.
MI

Buist Electric, Inc.

Entity: Corporation

Industry: Electrical Contractors and Other Wiring Installation Contractors

Location: Byron Center, MI

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Buist Electric, Inc. is a corporation located at 2 - 84th St. Sw in Byron Center, Michigan that received a Coronavirus-related PPP loan from the SBA of $6,648,435.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$6.65M

Jobs Retained:

360

Loan Approved:

2020-04-13

Lender:

TCF NATIONAL BANK

Buist Electric, Inc. in Byron Center, MI received a Paycheck Protection Loan of $6.65M through TCF NATIONAL BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Buist Electric, Inc.'s total 2019 payroll expenses were approximately $31.91M in order to qualify for the PPP loan amount received.

Based on their reported 360 jobs retained, this equals an estimated average yearly compensation of $88,646 per employee1.

Because the loan received by Buist Electric, 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 - Buist Electric, Inc. in Byron Center, MI

Buist Electric, Inc.
2 - 84th St. Sw
Byron Center, MI 49315

Business Industry

Electrical Contractors and Other Wiring Installation Contractors (NAICS code 238210)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MI-03

Similar Companies near Byron Center

In the Byron Center area, 7 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a PPP loan. These local businesses reported an average of 68 employees (compared to this company's 360) and received an average PPP loan of $1,174,634 (compared to this company's $6.65M).

Industry PPP Comparison Statistics

Nationwide, 44,489 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a total of $8,060,101,877.00 in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 2% of the total PPP funding allocated.

PPP recipients in this industry report an average of 12 employees, 97% lower than Buist Electric, Inc.'s reported 360 employees, and received an average PPP loan of $181,171, 97% lower than this company's loan of $6.65M.

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/buist-electric-inc-byron-center-mi