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PPP Loan Data — Carelinc Medical Equipment & Supply Co LLC, Grand Rapids, MI

SBA PPP loan data, payroll data, and salaries for Carelinc Medical Equipment & Supply Co LLC
MI

Carelinc Medical Equipment & Supply Co LLC

Entity: Limited Liability Company (LLC)

Industry: Medical, Dental, and Hospital Equipment and Supplies Merchant Wholesalers

Location: Grand Rapids, MI

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Carelinc Medical Equipment & Supply Co LLC is a limited liability company (LLC) located at 89 54th St Sw in Grand Rapids, Michigan that received a Coronavirus-related PPP loan from the SBA of $4,907,750.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$4.91M

Jobs Retained:

485

Loan Approved:

2020-04-10

Lender:

MERCANTILE BANK OF MICHIGAN

Carelinc Medical Equipment & Supply Co LLC in Grand Rapids, MI received a Paycheck Protection Loan of $4.91M through MERCANTILE BANK OF MICHIGAN, which was approved in April, 2020.

Based on standard PPP eligibility rules, Carelinc Medical Equipment & Supply Co LLC's total 2019 payroll expenses were approximately $23.56M in order to qualify for the PPP loan amount received.

Based on their reported 485 jobs retained, this equals an estimated average yearly compensation of $48,572 per employee1.

Because the loan received by Carelinc Medical Equipment & Supply Co LLC 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 - Carelinc Medical Equipment & Supply Co LLC in Grand Rapids, MI

Carelinc Medical Equipment & Supply Co LLC
89 54th St Sw
Grand Rapids, MI 49548

Business Industry

Medical, Dental, and Hospital Equipment and Supplies Merchant Wholesalers (NAICS code 423450)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MI-02

Industry PPP Comparison Statistics

Nationwide, 8,635 businesses in the "Medical, Dental, and Hospital Equipment and Supplies Merchant Wholesalers" industry received a total of $1,055,539,669.00 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 9 employees, 98% lower than Carelinc Medical Equipment & Supply Co LLC's reported 485 employees, and received an average PPP loan of $122,240, 98% lower than this company's loan of $4.91M.

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.

Search FederalPay's Full PPP Loan Database

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/carelinc-medical-equipment-and-supply-co-llc-grand-rapids-mi