PPP Loan Data — Founders 3 Management Company, Milwaukee, WI
Founders 3 Management Company is a corporation located at 252 E Highland Ave in Milwaukee, Wisconsin that received a Coronavirus-related PPP loan from the SBA of $1,984,200.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:First Midwest Bank
Founders 3 Management Company in Milwaukee, WI received a Paycheck Protection Loan of $1.98M through First Midwest Bank, which was approved in April, 2020.
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, Founders 3 Management Company's 2019 payroll expenses are estimated to be at least $9.52M.
Based on their reported 195 jobs retained, this equals an estimated average yearly compensation of $48,842 per employee1
Reported PPP Proceed Usage:
On the PPP application, Founders 3 Management Company reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,984,200
Business Information - Founders 3 Management Company in Milwaukee, WI
252 E Highland Ave
Milwaukee, WI 53202
Other Activities Related to Real Estate
NAICS code 531390
Business Owner Demographics
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Milwaukee
In the Milwaukee area, 38 businesses in the "Other Activities Related to Real Estate" industry received a PPP loan. These local businesses reported an average of 19 employees (compared to this company's 195) and received an average PPP loan of $235,439 (compared to this company's $1.98M).
Similar Nearby Businesses Who Received PPP Funding:
Black Swan Enterprises LLC
Revel Asset Management LLC
LCM Property Services LLC
Joseph Property Development, LLC
Wells Street Advisors LLC
Irgens Partners, LLC
Stack Properties LLC
Endeavour Corporation, Inc
Industry PPP Comparison Statistics
Nationwide, 79,334 businesses in the "Other Activities Related to Real Estate" industry received a total of $3.69B 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 4 employees, 98% lower than Founders 3 Management Company's reported 195 employees, and received an average PPP loan of $46,456, 98% lower than this company's loan of $1.98M.
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Footnotes & Information
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