PPP Loan Data — Depor Industries, Inc, Birmingham, MI
Depor Industries, Inc is a corporation located at 390 Park St Suite 300 in Birmingham, Michigan that received a Coronavirus-related PPP loan from the SBA of $1,770,500.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Fifth Third Bank
Depor Industries, Inc in Birmingham, MI received a Paycheck Protection Loan of $1.77M through Fifth Third Bank, which was approved in April, 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.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
Based on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, Depor Industries, Inc's 2019 payroll expenses are estimated to be at least $8.5M.
Based on their reported 112 jobs retained, this equals an estimated average yearly compensation of $75,879 per employee1
Reported PPP Proceed Usage:
On the PPP application, Depor Industries, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,770,500
Business Information - Depor Industries, Inc in Birmingham, MI
390 Park St Suite 300
Birmingham, MI 48009
Paint and Coating Manufacturing
NAICS code 325510
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Birmingham
In the Birmingham area, 5 businesses in the "Paint and Coating Manufacturing" industry received a PPP loan. These local businesses reported an average of 84 employees (compared to this company's 112) and received an average PPP loan of $1,116,957 (compared to this company's $1.77M).
Similar Nearby Businesses Who Received PPP Funding:
Magni Industries, Inc
Groco Specialty Coatings LLC
The Magni Group, Inc
Industry PPP Comparison Statistics
Nationwide, 1,981 businesses in the "Paint and Coating Manufacturing" industry received a total of $355.48M 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 16 employees, 86% lower than Depor Industries, Inc's reported 112 employees, and received an average PPP loan of $179,443, 90% lower than this company's loan of $1.77M.
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Footnotes & Information
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