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PPP Loan Data — Gissing North America LLC, Franklin, MI

SBA PPP loan data, payroll data, and salaries for Gissing North America LLC
MI

Gissing North America LLC

Entity: Limited Liability Company (LLC)

Industry: Automobile Manufacturing

Location: Franklin, MI

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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

Loan Size:

$4.65M

Jobs Retained:

249

Loan Approved:

2020-04-12

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.

Because the loan received by Gissing North America LLC 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 - Gissing North America LLC in Franklin, MI

Gissing North America LLC
32500 Telegraph Road
Franklin, MI 48025

Business Industry

Automobile Manufacturing (NAICS code 336111)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional 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
Fraser, MI

$93,700 PPP Loan

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.

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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/gissing-north-america-llc-franklin-mi