PPP Loan Data — D&T Home Improvement LLC, Macomb, MI
D&T Home Improvement LLC is a limited liability company (LLC) located at 21670 Ambassador Dr in Macomb, Michigan that received a Coronavirus-related PPP loan from the SBA of $46,112.00 in May, 2020.
The company has reported itself as a White male owned business, and employed at least two people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:The Huntington National Bank
D&T Home Improvement LLC in Macomb, MI received a Paycheck Protection Loan of $46,112 through The Huntington National Bank, which was approved in May, 2020.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 2. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
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, D&T Home Improvement LLC's 2019 payroll expenses are estimated to be at least $221,338 (not accounting for salary amounts > $100k).
Because the 2 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Reported PPP Proceed Usage:
On the PPP application, D&T Home Improvement LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,112
Business Information - D&T Home Improvement LLC in Macomb, MI
21670 Ambassador Dr
Macomb, MI 48044
NAICS code 236118
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Macomb
In the Macomb area, 46 businesses in the "Residential Remodelers" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 2) and received an average PPP loan of $28,215 (compared to this company's $46,112).
Similar Nearby Businesses Who Received PPP Funding:
Ideel Property Services LLC
Galaxy Contracting Inc
Harrison Twp, MI
SDS Inc. Of Macomb Twp
New Horizons Home Improvements
Harrison Township, MI
Ultimate Painting And Renovation
D & T Home Improvement LLC
Tarrell Hill Taylor
Harrison Twp, MI
Ryan B Horning
Industry PPP Comparison Statistics
Nationwide, 175,017 businesses in the "Residential Remodelers" industry received a total of $5.32B 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 3 employees, 50% higher than D&T Home Improvement LLC's reported 2 employees, and received an average PPP loan of $30,405, 34% lower than this company's loan of $46,112.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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