PPP Loan Data — HFG Advisors Inc, Kalamazoo, MI
HFG Advisors Inc is a subchapter s corporation located at 5659 W Michigan Ave in Kalamazoo, Michigan that received a Coronavirus-related PPP loan from the SBA of $46,600.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
HFG Advisors Inc in Kalamazoo, MI received a Paycheck Protection Loan of $46,600 through Comerica Bank, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in May, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
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, HFG Advisors Inc's 2019 payroll expenses are estimated to be at least $223,680.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $55,920 per employee1
Reported PPP Proceed Usage:
On the PPP application, HFG Advisors Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,600
Business Information - HFG Advisors Inc in Kalamazoo, MI
5659 W Michigan Ave
Kalamazoo, MI 49009
Miscellaneous Financial Investment Activities
NAICS code 523999
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Kalamazoo
In the Kalamazoo area, 7 businesses in the "Miscellaneous Financial Investment Activities" industry received a PPP loan. These local businesses reported an average of 1 employees (compared to this company's 4) and received an average PPP loan of $23,850 (compared to this company's $46,600).
Similar Nearby Businesses Who Received PPP Funding:
Thomas Scott Pressey
Industry PPP Comparison Statistics
Nationwide, 12,855 businesses in the "Miscellaneous Financial Investment Activities" industry received a total of $583.39M 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 3 employees, 25% lower than HFG Advisors Inc's reported 4 employees, and received an average PPP loan of $45,383, 3% lower than this company's loan of $46,600.
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Footnotes & Information
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