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PPP Loan Data — DFM Solutions LLC, Detroit, MI

SBA PPP loan data, payroll data, and salaries for DFM Solutions LLC
MI

DFM Solutions LLC

Entity: Limited Liability Company (LLC)

Industry: Office Administrative Services

Location: Detroit, MI

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DFM Solutions LLC is a limited liability company (LLC) located at 777 Woodward Ave in Detroit, Michigan that received a Coronavirus-related PPP loan from the SBA of $3,390,700.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.39M

Jobs Retained:

320

Loan Approved:

2020-04-12

Lender:

PNC BANK, NATIONAL ASSOCIATION

DFM Solutions LLC received a Paycheck Protection Loan of $3.39M through PNC BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, DFM Solutions LLC's total 2019 payroll expenses were approximately $16.28M in order to qualify for the PPP loan amount received.

Based on their reported 320 jobs retained, this equals an estimated average yearly compensation of $50,861 per employee1.

Because the loan received by DFM Solutions 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 - DFM Solutions LLC in Detroit, MI

DFM Solutions LLC
777 Woodward Ave
Detroit, MI 48226

Business Industry

Office Administrative Services (NAICS code 561110)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MI-14

Similar Companies near Detroit

In the Detroit area, 9 businesses in the "Office Administrative Services" industry received a PPP loan. These local businesses reported an average of 48 employees (compared to this company's 320) and received an average PPP loan of $573,682 (compared to this company's $3.39M).

Industry PPP Comparison Statistics

Nationwide, 18,417 businesses in the "Office Administrative Services" industry received a total of $1,762,719,177.00 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 9 employees, 97% lower than DFM Solutions LLC's reported 320 employees, and received an average PPP loan of $95,712, 97% lower than this company's loan of $3.39M.

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/dfm-solutions-llc-detroit-mi