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PPP Loan Data — General RV Center, Inc, Wixom, MI

SBA PPP loan data, payroll data, and salaries for General RV Center, Inc
MI

General RV Center, Inc

Entity: Subchapter S Corporation

Industry: Recreational Vehicle Dealers

Location: Wixom, MI

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General RV Center, Inc is a subchapter s corporation located at 25000 Assembly Park Dr in Wixom, Michigan that received a Coronavirus-related PPP loan from the SBA of $4,541,500.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$4.54M

Jobs Retained:

500

Loan Approved:

2020-04-30

Lender:

COMERICA BANK

General RV Center, Inc received a Paycheck Protection Loan of $4.54M through COMERICA BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, General RV Center, Inc's total 2019 payroll expenses were approximately $21.8M in order to qualify for the PPP loan amount received.

Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $43,598 per employee1.

Because the loan received by General RV Center, Inc 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 - General RV Center, Inc in Wixom, MI

General RV Center, Inc
25000 Assembly Park Dr
Wixom, MI 48393

Business Industry

Recreational Vehicle Dealers (NAICS code 441210)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MI-11

Industry PPP Comparison Statistics

Nationwide, 2,269 businesses in the "Recreational Vehicle Dealers" industry received a total of $427,538,087.00 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 16 employees, 97% lower than General RV Center, Inc's reported 500 employees, and received an average PPP loan of $188,426, 96% lower than this company's loan of $4.54M.

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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA.

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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/general-rv-center-inc-wixom-mi