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PPP Loan Data — Conlan Tire Co LLC, Warren, MI

SBA PPP loan data, payroll data, and salaries for Conlan Tire Co LLC
MI

Conlan Tire Co LLC

Entity: Limited Liability Company (LLC)

Industry: Tire and Tube Merchant Wholesalers

Location: Warren, MI

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Conlan Tire Co LLC is a limited liability company (LLC) located at 12225 Stephens Rd in Warren, Michigan that received a Coronavirus-related PPP loan from the SBA of $2,687,800.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.69M

Jobs Retained:

244

Loan Approved:

2020-04-28

Lender:

FIFTH THIRD BANK

Conlan Tire Co LLC received a Paycheck Protection Loan of $2.69M through FIFTH THIRD BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Conlan Tire Co LLC's total 2019 payroll expenses were approximately $12.9M in order to qualify for the PPP loan amount received.

Based on their reported 244 jobs retained, this equals an estimated average yearly compensation of $52,875 per employee1.

Because the loan received by Conlan Tire 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 - Conlan Tire Co LLC in Warren, MI

Conlan Tire Co LLC
12225 Stephens Rd
Warren, MI 48089

Business Industry

Tire and Tube Merchant Wholesalers (NAICS code 423130)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MI-09

Similar Companies near Warren

In the Warren area, 3 businesses in the "Tire and Tube Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 92 employees (compared to this company's 244) and received an average PPP loan of $1,029,329 (compared to this company's $2.69M).

Industry PPP Comparison Statistics

Nationwide, 818 businesses in the "Tire and Tube Merchant Wholesalers" industry received a total of $131,286,804.00 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 14 employees, 94% lower than Conlan Tire Co LLC's reported 244 employees, and received an average PPP loan of $160,497, 94% lower than this company's loan of $2.69M.

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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) 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/conlan-tire-co-llc-warren-mi