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PPP Loan Data — Global Titanium, Inc., Detroit, MI

SBA PPP loan data, payroll data, and salaries for Global Titanium, Inc.
MI

Global Titanium, Inc.

Entity: Corporation

Industry: All Other Miscellaneous Fabricated Metal Product Manufacturing

Location: Detroit, MI

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Global Titanium, Inc. is a corporation located at 19300 Filer St in Detroit, Michigan that received a Coronavirus-related PPP loan from the SBA of $2,933,928.00 in April, 2020.

The company has reported itself as a White male owned business, and employed at least 168 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$2.93M

Jobs Retained:

168

Loan Approved:

2020-04-09

Lender:

OXFORD BANK

Global Titanium, Inc. received a Paycheck Protection Loan of $2.93M through OXFORD BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Global Titanium, Inc.'s total 2019 payroll expenses were approximately $14.08M in order to qualify for the PPP loan amount received.

Based on their reported 168 jobs retained, this equals an estimated average yearly compensation of $83,827 per employee1.

Because the loan received by Global Titanium, 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 - Global Titanium, Inc. in Detroit, MI

Global Titanium, Inc.
19300 Filer St
Detroit, MI 48234

Business Industry

All Other Miscellaneous Fabricated Metal Product Manufacturing (NAICS code 332999)

Business Owner Demographics

Race / Ethnicity: WHITE

Gender: MALE OWNED

Veteran Status: NON-VETERAN

Congressional District: MI-14

Industry PPP Comparison Statistics

Nationwide, 4,328 businesses in the "All Other Miscellaneous Fabricated Metal Product Manufacturing" industry received a total of $1,219,008,137.00 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 22 employees, 87% lower than Global Titanium, Inc.'s reported 168 employees, and received an average PPP loan of $281,656, 90% lower than this company's loan of $2.93M.

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/global-titanium-inc-detroit-mi