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PPP Loan Data — Garan Lucow Miller, Professional Corporation, Detroit, MI

SBA PPP loan data, payroll data, and salaries for Garan Lucow Miller, Professional Corporation
MI

Garan Lucow Miller, Professional Corporation

Entity: Subchapter S Corporation

Industry: Offices of Lawyers

Location: Detroit, MI

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Garan Lucow Miller, Professional Corporation is a subchapter s corporation located at 1155 Brewery Park Blvd. in Detroit, Michigan that received a Coronavirus-related PPP loan from the SBA of $3,560,900.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.56M

Jobs Retained:

181

Loan Approved:

2020-04-28

Lender:

COMERICA BANK

Garan Lucow Miller, Professional Corporation in Detroit, MI received a Paycheck Protection Loan of $3.56M through COMERICA BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Garan Lucow Miller, Professional Corporation's total 2019 payroll expenses were approximately $17.09M in order to qualify for the PPP loan amount received.

Based on their reported 181 jobs retained, this equals an estimated average yearly compensation of $94,433 per employee1.

Because the loan received by Garan Lucow Miller, Professional Corporation 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 - Garan Lucow Miller, Professional Corporation in Detroit, MI

Garan Lucow Miller, Professional Corporation
1155 Brewery Park Blvd.
Detroit, MI 48207

Business Industry

Offices of Lawyers (NAICS code 541110)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MI-13

Similar Companies near Detroit

In the Detroit area, 12 businesses in the "Offices of Lawyers" industry received a PPP loan. These local businesses reported an average of 21 employees (compared to this company's 181) and received an average PPP loan of $382,956 (compared to this company's $3.56M).

Industry PPP Comparison Statistics

Nationwide, 126,779 businesses in the "Offices of Lawyers" industry received a total of $11,918,471,350.00 in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 2% of the total PPP funding allocated.

PPP recipients in this industry report an average of 6 employees, 97% lower than Garan Lucow Miller, Professional Corporation's reported 181 employees, and received an average PPP loan of $94,010, 97% lower than this company's loan of $3.56M.

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.

Search FederalPay's Full PPP Loan Database

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/garan-lucow-miller-professional-corporation-detroit-mi