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PPP Loan Data — Harbor Steel & Supply Corp, Muskegon, MI

SBA PPP loan data, payroll data, and salaries for Harbor Steel & Supply Corp
MI

Harbor Steel & Supply Corp

Entity: Corporation

Industry: Fabricated Structural Metal Manufacturing

Location: Muskegon, MI

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Harbor Steel & Supply Corp is a corporation located at 1115 E Broadway Ave Se in Muskegon, Michigan that received a Coronavirus-related PPP loan from the SBA of $2,790,963.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.79M

Jobs Retained:

193

Loan Approved:

2020-04-08

Lender:

TCF NATIONAL BANK

Harbor Steel & Supply Corp in Muskegon, MI received a Paycheck Protection Loan of $2.79M through TCF NATIONAL BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Harbor Steel & Supply Corp's total 2019 payroll expenses were approximately $13.4M in order to qualify for the PPP loan amount received.

Based on their reported 193 jobs retained, this equals an estimated average yearly compensation of $69,413 per employee1.

Because the loan received by Harbor Steel & Supply Corp 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 - Harbor Steel & Supply Corp in Muskegon, MI

Harbor Steel & Supply Corp
1115 E Broadway Ave Se
Muskegon, MI 49444

Business Industry

Fabricated Structural Metal Manufacturing (NAICS code 332312)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MI-02

Industry PPP Comparison Statistics

Nationwide, 3,076 businesses in the "Fabricated Structural Metal Manufacturing" industry received a total of $957,416,230.00 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 23 employees, 88% lower than Harbor Steel & Supply Corp's reported 193 employees, and received an average PPP loan of $311,254, 89% lower than this company's loan of $2.79M.

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/harbor-steel-and-supply-corp-muskegon-mi