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PPP Loan Data — Crystal Enterprises, Inc., Thompsonville, MI

SBA PPP loan data, payroll data, and salaries for Crystal Enterprises, Inc.
MI

Crystal Enterprises, Inc.

Entity: Corporation

Industry: Hotels (except Casino Hotels) and Motels

Location: Thompsonville, MI

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Crystal Enterprises, Inc. is a corporation located at 12500 Crystal Mountain Dr in Thompsonville, Michigan that received a Coronavirus-related PPP loan from the SBA of $3,076,000.00 in April, 2020.

The company has reported itself as a male owned business, and employed at least 343 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$3.08M

Jobs Retained:

343

Loan Approved:

2020-04-14

Lender:

FIFTH THIRD BANK

Crystal Enterprises, Inc. received a Paycheck Protection Loan of $3.08M through FIFTH THIRD BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Crystal Enterprises, Inc.'s total 2019 payroll expenses were approximately $14.76M in order to qualify for the PPP loan amount received.

Based on their reported 343 jobs retained, this equals an estimated average yearly compensation of $43,046 per employee1.

Because the loan received by Crystal Enterprises, 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 - Crystal Enterprises, Inc. in Thompsonville, MI

Crystal Enterprises, Inc.
12500 Crystal Mountain Dr
Thompsonville, MI 49683

Business Industry

Hotels (except Casino Hotels) and Motels (NAICS code 721110)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: MALE OWNED

Veteran Status: NON-VETERAN

Congressional District: MI-01

Similar Companies near Thompsonville

In the Thompsonville area, 5 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a PPP loan. These local businesses reported an average of 83 employees (compared to this company's 343) and received an average PPP loan of $766,981 (compared to this company's $3.08M).

Industry PPP Comparison Statistics

Nationwide, 41,528 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a total of $6,692,184,447.00 in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.

PPP recipients in this industry report an average of 21 employees, 94% lower than Crystal Enterprises, Inc.'s reported 343 employees, and received an average PPP loan of $161,149, 95% lower than this company's loan of $3.08M.

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.

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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/crystal-enterprises-inc-thompsonville-mi