PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Hausbeck Brothers Inc, Reese, MI

ALERT: There are 2 PPP loans for a total of $6.94M in our database for businesses with the name "Hausbeck Brothers Inc" in Reese, MI. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Hausbeck Brothers Inc
MI

Hausbeck Brothers Inc

Entity: Corporation

Industry: General Freight Trucking, Long-Distance, Truckload

Location: Reese, MI

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Hausbeck Brothers Inc is a corporation located at 2695 W Vassar Rd in Reese, Michigan that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in January, 2021.

The company has reported itself as a male owned business, and employed at least 295 people during the applicable loan loan period.

$ PPP Loan Information
Loan #4419728307

Loan Size:

$2M

Jobs Retained:

295

Loan Approved:

2021-01-23

Loan Status:

Ongoing Loan

Lender:

1st State Bank

Hausbeck Brothers Inc in Reese, MI received a Paycheck Protection Loan of $2M through 1st State Bank, which was approved in January, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

Based on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, Hausbeck Brothers Inc's 2019 payroll expenses are estimated to be at least $9.6M.

Based on their reported 295 jobs retained, this equals an estimated average yearly compensation of $32,542 per employee1

Reported PPP Proceed Usage:

On the PPP application, Hausbeck Brothers Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $2,000,000
Because the loan received by Hausbeck Brothers 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 - Hausbeck Brothers Inc in Reese, MI

Hausbeck Brothers Inc
2695 W Vassar Rd
Reese, MI 48757

Business Industry:
General Freight Trucking, Long-Distance, Truckload
NAICS code 484121

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Rural

Saginaw County, MI — SBA Office 0515 — Congressional District: MI-05

Similar Companies near Reese

In the Reese area, 3 businesses in the "General Freight Trucking, Long-Distance, Truckload" industry received a PPP loan. These local businesses reported an average of 101 employees (compared to this company's 295) and received an average PPP loan of $692,685 (compared to this company's $2M).

Industry PPP Comparison Statistics

Nationwide, 67,342 businesses in the "General Freight Trucking, Long-Distance, Truckload" industry received a total of $3.7B in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.

PPP recipients in this industry report an average of 5 employees, 98% lower than Hausbeck Brothers Inc's reported 295 employees, and received an average PPP loan of $55,017, 97% lower than this company's loan of $2M.

SBA PPP loan data, payroll data, and salaries for Hausbeck Brothers, Inc
MI

Hausbeck Brothers, Inc

Entity: Corporation

Industry: General Freight Trucking, Local

Location: Reese, MI

Search All PPP Data

Hausbeck Brothers, Inc is a corporation located at 2695 W. Vassar Rd in Reese, Michigan that received a Coronavirus-related PPP loan from the SBA of $4,939,500.00 in April, 2020.

The company has reported itself as a male owned business, and employed at least 250 people during the applicable loan loan period.

$ PPP Loan Information
Loan #4444607007

Loan Size:

$4.94M

Jobs Retained:

250

Loan Approved:

2020-04-03

Loan Status:

Ongoing Loan

Lender:

1st State Bank

Hausbeck Brothers, Inc in Reese, MI received a Paycheck Protection Loan of $4.94M through 1st State Bank, which was approved in April, 2020.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

Based on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, Hausbeck Brothers, Inc's 2019 payroll expenses are estimated to be at least $23.71M.

Based on their reported 250 jobs retained, this equals an estimated average yearly compensation of $94,838 per employee1

Reported PPP Proceed Usage:

On the PPP application, Hausbeck Brothers, Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $4,333,200
  • Utilities: $70,800
  • Rent: $20,000
  • Health Care: $395,100
  • Debt Interest: $120,400
Because the loan received by Hausbeck Brothers, 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 - Hausbeck Brothers, Inc in Reese, MI

Hausbeck Brothers, Inc
2695 W. Vassar Rd
Reese, MI 48757

Business Industry:
General Freight Trucking, Local
NAICS code 484110

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Rural

Saginaw County, MI — SBA Office 0515 — Congressional District: MI-05

Industry PPP Comparison Statistics

Nationwide, 123,651 businesses in the "General Freight Trucking, Local" industry received a total of $5.61B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.

PPP recipients in this industry report an average of 4 employees, 98% lower than Hausbeck Brothers, Inc's reported 250 employees, and received an average PPP loan of $45,351, 99% lower than this company's loan of $4.94M.

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. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. 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/hausbeck-brothers-inc-reese-mi