PPP Loan Data — Eagle Alloys Inc, Muskegon, MI
Eagle Alloys Inc is a corporation located at 5142 Evanston Ave in Muskegon, Michigan that received a Coronavirus-related PPP loan from the SBA of $4,014,000.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 224 people during the applicable loan loan period.
$ PPP Loan Information
Eagle Alloys Inc in Muskegon, MI received a Paycheck Protection Loan of $4.01M through CHOICEONE BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Eagle Alloys Inc's total 2019 payroll expenses were approximately $19.27M in order to qualify for the PPP loan amount received.
Based on their reported 224 jobs retained, this equals an estimated average yearly compensation of $86,014 per employee1.
Business Information - Eagle Alloys Inc in Muskegon, MI
5142 Evanston Ave
Muskegon, MI 49442
Steel Foundries (except Investment) (NAICS code 331513)
Business Owner Demographics
Race / Ethnicity: WHITE
Gender: MALE OWNED
Veteran Status: NON-VETERANCongressional District: MI-02
Industry PPP Comparison Statistics
Nationwide, 137 businesses in the "Steel Foundries (except Investment)" industry received a total of $74,381,992.00 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 39 employees, 83% lower than Eagle Alloys Inc's reported 224 employees, and received an average PPP loan of $542,934, 86% lower than this company's loan of $4.01M.
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.
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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