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PPP Loan Data — Covenant Eyes Inc, Owosso, MI

SBA PPP loan data, payroll data, and salaries for Covenant Eyes Inc
MI

Covenant Eyes Inc

Entity: Corporation

Industry: Custom Computer Programming Services

Location: Owosso, MI

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Covenant Eyes Inc is a corporation located at 1525 W. King Street in Owosso, Michigan that received a Coronavirus-related PPP loan from the SBA of $2,962,500.00 in April, 2020.

The company has reported itself as a White male owned business, and employed at least 203 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$2.96M

Jobs Retained:

203

Loan Approved:

2020-04-12

Lender:

TCF NATIONAL BANK

Covenant Eyes Inc in Owosso, MI received a Paycheck Protection Loan of $2.96M through TCF NATIONAL BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Covenant Eyes Inc's total 2019 payroll expenses were approximately $14.22M in order to qualify for the PPP loan amount received.

Based on their reported 203 jobs retained, this equals an estimated average yearly compensation of $70,049 per employee1.

Because the loan received by Covenant Eyes Inc 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 - Covenant Eyes Inc in Owosso, MI

Covenant Eyes Inc
1525 W. King Street
Owosso, MI 48867

Business Industry

Custom Computer Programming Services (NAICS code 541511)

Business Owner Demographics

Race / Ethnicity: WHITE

Gender: MALE OWNED

Veteran Status: NON-VETERAN

Congressional District: MI-04

Industry PPP Comparison Statistics

Nationwide, 24,641 businesses in the "Custom Computer Programming Services" industry received a total of $4,943,790,485.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 1% of the total PPP funding allocated.

PPP recipients in this industry report an average of 11 employees, 95% lower than Covenant Eyes Inc's reported 203 employees, and received an average PPP loan of $200,633, 93% lower than this company's loan of $2.96M.

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.

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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/covenant-eyes-inc-owosso-mi