PPP Loan Data — ECS Partnership, Warren, MI
ECS Partnership is a limited liability partnership located at 25300 Mound Rd in Warren, Michigan that received a Coronavirus-related PPP loan from the SBA of $1,603,200.00 in April, 2020. This business is a McDonalds franchise.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bremer Bank, National Association
ECS Partnership in Warren, MI received a Paycheck Protection Loan of $1.6M through Bremer Bank, National Association, 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, ECS Partnership's 2019 payroll expenses are estimated to be at least $7.7M.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $15,391 per employee1
Reported PPP Proceed Usage:
On the PPP application, ECS Partnership reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,603,200
Business Information - ECS Partnership in Warren, MI
25300 Mound Rd
Warren, MI 48091
NAICS code 722513
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Warren
In the Warren area, 26 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 48 employees (compared to this company's 500) and received an average PPP loan of $176,898 (compared to this company's $1.6M).
Similar Nearby Businesses Who Received PPP Funding:
#1 Chinese Food
ZSA Cafe Inc
2941 Street Foods, LLC
Cordaro Investments Inc
Industry PPP Comparison Statistics
Nationwide, 137,629 businesses in the "Limited-Service Restaurants" industry received a total of $13.9B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 21 employees, 96% lower than ECS Partnership's reported 500 employees, and received an average PPP loan of $100,980, 94% lower than this company's loan of $1.6M.
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Footnotes & Information
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