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PPP Loan Data — Cadillac Products Inc, Troy, MI

SBA PPP loan data, payroll data, and salaries for Cadillac Products Inc
MI

Cadillac Products Inc

Entity: Corporation

Industry: Other Motor Vehicle Parts Manufacturing

Location: Troy, MI

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Cadillac Products Inc is a corporation located at 5800 Crooks Rd Ste 100 in Troy, Michigan that received a Coronavirus-related PPP loan from the SBA of $3,274,500.00 in May, 2020.

$ PPP Loan Information

Loan Size:

$3.27M

Jobs Retained:

216

Loan Approved:

2020-05-01

Lender:

BANK OF AMERICA, NATIONAL ASSOCIATION

Cadillac Products Inc in Troy, MI received a Paycheck Protection Loan of $3.27M through BANK OF AMERICA, NATIONAL ASSOCIATION, which was approved in May, 2020.

Based on standard PPP eligibility rules, Cadillac Products Inc's total 2019 payroll expenses were approximately $15.72M in order to qualify for the PPP loan amount received.

Based on their reported 216 jobs retained, this equals an estimated average yearly compensation of $72,767 per employee1.

Because the loan received by Cadillac Products 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 - Cadillac Products Inc in Troy, MI

Cadillac Products Inc
5800 Crooks Rd Ste 100
Troy, MI 48098

Business Industry

Other Motor Vehicle Parts Manufacturing (NAICS code 336390)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MI-11

Industry PPP Comparison Statistics

Nationwide, 1,012 businesses in the "Other Motor Vehicle Parts Manufacturing" industry received a total of $430,804,983.00 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 33 employees, 85% lower than Cadillac Products Inc's reported 216 employees, and received an average PPP loan of $425,697, 87% lower than this company's loan of $3.27M.

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/cadillac-products-inc-troy-mi