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PPP Loan Data — City Club Apartments LLC, Farmington, MI

SBA PPP loan data, payroll data, and salaries for City Club Apartments LLC
MI

City Club Apartments LLC

Entity: Limited Liability Company (LLC)

Industry: Lessors of Residential Buildings and Dwellings

Location: Farmington, MI

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City Club Apartments LLC is a limited liability company (LLC) located at 31700 Middlebelt Rd, Ste 140 in Farmington, Michigan that received a Coronavirus-related PPP loan from the SBA of $2,982,500.00 in April, 2020.

The company has reported itself as a White male owned business, and employed at least 230 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$2.98M

Jobs Retained:

230

Loan Approved:

2020-04-07

Lender:

THE HUNTINGTON NATIONAL BANK

City Club Apartments LLC in Farmington, MI received a Paycheck Protection Loan of $2.98M through THE HUNTINGTON NATIONAL BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, City Club Apartments LLC's total 2019 payroll expenses were approximately $14.32M in order to qualify for the PPP loan amount received.

Based on their reported 230 jobs retained, this equals an estimated average yearly compensation of $62,243 per employee1.

Because the loan received by City Club Apartments 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 - City Club Apartments LLC in Farmington, MI

City Club Apartments LLC
31700 Middlebelt Rd, Ste 140
Farmington, MI 48334

Business Industry

Lessors of Residential Buildings and Dwellings (NAICS code 531110)

Business Owner Demographics

Race / Ethnicity: WHITE

Gender: MALE OWNED

Veteran Status: NON-VETERAN

Congressional District: MI-14

Similar Companies near Farmington

In the Farmington area, 5 businesses in the "Lessors of Residential Buildings and Dwellings" industry received a PPP loan. These local businesses reported an average of 54 employees (compared to this company's 230) and received an average PPP loan of $690,820 (compared to this company's $2.98M).

Industry PPP Comparison Statistics

Nationwide, 20,568 businesses in the "Lessors of Residential Buildings and Dwellings" industry received a total of $1,664,555,814.00 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 8 employees, 97% lower than City Club Apartments LLC's reported 230 employees, and received an average PPP loan of $80,929, 97% lower than this company's loan of $2.98M.

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/city-club-apartments-llc-farmington-mi