PPP Loan Data — Gissing North America LLC, Franklin, MI
Gissing North America LLC is a limited liability company (LLC) located at 32500 Telegraph Road in Franklin, Michigan that received a Coronavirus-related PPP loan from the SBA of $4,648,710.00 in April, 2020.
$ PPP Loan Information
Lender:THE HUNTINGTON NATIONAL BANK
Gissing North America LLC in Franklin, MI received a Paycheck Protection Loan of $4.65M through THE HUNTINGTON NATIONAL BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Gissing North America LLC's total 2019 payroll expenses were approximately $22.31M in order to qualify for the PPP loan amount received.
Based on their reported 249 jobs retained, this equals an estimated average yearly compensation of $89,614 per employee1.
Business Information - Gissing North America LLC in Franklin, MI
32500 Telegraph Road
Franklin, MI 48025
Automobile Manufacturing (NAICS code 336111)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: MI-09
Similar Companies near Franklin
In the Franklin area, 2 businesses in the "Automobile Manufacturing" industry received a PPP loan. These local businesses reported an average of 125 employees (compared to this company's 249) and received an average PPP loan of $2,371,205 (compared to this company's $4.65M).
Similar Nearby Businesses Who Received PPP Funding:
New World Etching North America
Industry PPP Comparison Statistics
Nationwide, 372 businesses in the "Automobile Manufacturing" industry received a total of $165,660,729.00 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 31 employees, 88% lower than Gissing North America LLC's reported 249 employees, and received an average PPP loan of $445,325, 90% lower than this company's loan of $4.65M.
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.
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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