PPP Loan Data — CLC Investment Advisors, LLC, Boyne City, MI
CLC Investment Advisors, LLC is a limited liability company (LLC) located in Boyne City, Michigan that received a Coronavirus-related PPP loan from the SBA of $24,875.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:JPMorgan Chase Bank, National Association
CLC Investment Advisors, LLC in Boyne City, MI received a Paycheck Protection Loan of $24,875 through JPMorgan Chase Bank, National Association, which was approved in May, 2020.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 1 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 1. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
Reported PPP Proceed Usage:
On the PPP application, CLC Investment Advisors, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,875
Business Information - CLC Investment Advisors, LLC in Boyne City, MI
Boyne City, MI
* Full address is redacted to protect the privacy of individuals.
NAICS code 523910
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Boyne City
In the Boyne City area, 2 businesses in the "Miscellaneous Intermediation" industry received a PPP loan. These local businesses reported an average of 1 employees (compared to this company's 1) and received an average PPP loan of $22,854 (compared to this company's $24,875).
Similar Nearby Businesses Who Received PPP Funding:
Battista Family Investments, Inc
Boyne City, MI
Industry PPP Comparison Statistics
Nationwide, 8,414 businesses in the "Miscellaneous Intermediation" industry received a total of $504.92M in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 9 employees, 800% higher than CLC Investment Advisors, LLC's reported 1 employees, and received an average PPP loan of $60,010, 141% higher than this company's loan of $24,875.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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