PPP Loan Data — Champion, Inc., Iron Mountain, MI
Champion, Inc. is a corporation located at 180 Traders Mine Rd in Iron Mountain, Michigan that received a Coronavirus-related PPP loan from the SBA of $5,824,200.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 477 people during the applicable loan loan period.
$ PPP Loan Information
Lender:WISCONSIN BANK & TRUST
Champion, Inc. in Iron Mountain, MI received a Paycheck Protection Loan of $5.82M through WISCONSIN BANK & TRUST, which was approved in April, 2020.
Based on standard PPP eligibility rules, Champion, Inc.'s total 2019 payroll expenses were approximately $27.96M in order to qualify for the PPP loan amount received.
Based on their reported 477 jobs retained, this equals an estimated average yearly compensation of $58,608 per employee1.
Business Information - Champion, Inc. in Iron Mountain, MI
180 Traders Mine Rd
Iron Mountain, MI 49801
Ready-Mix Concrete Manufacturing (NAICS code 327320)
Business Owner Demographics
Race / Ethnicity: WHITE
Gender: MALE OWNED
Veteran Status: NON-VETERANCongressional District: MI-01
Industry PPP Comparison Statistics
Nationwide, 1,205 businesses in the "Ready-Mix Concrete Manufacturing" industry received a total of $443,693,471.00 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 26 employees, 95% lower than Champion, Inc.'s reported 477 employees, and received an average PPP loan of $368,210, 94% lower than this company's loan of $5.82M.
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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