PPP Loan Data — Cadillac Products Inc, Troy, MI
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
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.
Business Information - Cadillac Products Inc in Troy, MI
5800 Crooks Rd Ste 100
Troy, MI 48098
Other Motor Vehicle Parts Manufacturing (NAICS code 336390)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional 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.
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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