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PPP Loan Data — G.H.S. Corporation, Springfield, MI

SBA PPP loan data, payroll data, and salaries for G.H.S. Corporation
MI

G.H.S. Corporation

Entity: Subchapter S Corporation

Industry: Musical Instrument Manufacturing

Location: Springfield, MI

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G.H.S. Corporation is a subchapter s corporation located at 2813 Wilbur St in Springfield, Michigan that received a Coronavirus-related PPP loan from the SBA of $3,512,100.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.51M

Jobs Retained:

242

Loan Approved:

2020-04-08

Lender:

COMERICA BANK

G.H.S. Corporation received a Paycheck Protection Loan of $3.51M through COMERICA BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, G.H.S. Corporation's total 2019 payroll expenses were approximately $16.86M in order to qualify for the PPP loan amount received.

Based on their reported 242 jobs retained, this equals an estimated average yearly compensation of $69,661 per employee1.

Because the loan received by G.H.S. 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 - G.H.S. Corporation in Springfield, MI

G.H.S. Corporation
2813 Wilbur St
Springfield, MI 49037

Business Industry

Musical Instrument Manufacturing (NAICS code 339992)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MI-03

Industry PPP Comparison Statistics

Nationwide, 488 businesses in the "Musical Instrument Manufacturing" industry received a total of $80,643,359.00 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 14 employees, 94% lower than G.H.S. Corporation's reported 242 employees, and received an average PPP loan of $165,253, 95% lower than this company's loan of $3.51M.

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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Source: www.federalpay.org/paycheck-protection-program/ghs-corporation-springfield-mi