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PPP Loan Data — High Grade Materials Company, Greenville, MI

SBA PPP loan data, payroll data, and salaries for High Grade Materials Company
MI

High Grade Materials Company

Entity: Subchapter S Corporation

Industry: Ready-Mix Concrete Manufacturing

Location: Greenville, MI

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High Grade Materials Company is a subchapter s corporation located at 9266 Snows Lake Rd in Greenville, Michigan that received a Coronavirus-related PPP loan from the SBA of $4,149,872.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$4.15M

Jobs Retained:

285

Loan Approved:

2020-04-06

Lender:

MERCANTILE BANK OF MICHIGAN

High Grade Materials Company in Greenville, MI received a Paycheck Protection Loan of $4.15M through MERCANTILE BANK OF MICHIGAN, which was approved in April, 2020.

Based on standard PPP eligibility rules, High Grade Materials Company's total 2019 payroll expenses were approximately $19.92M in order to qualify for the PPP loan amount received.

Based on their reported 285 jobs retained, this equals an estimated average yearly compensation of $69,893 per employee1.

Because the loan received by High Grade Materials Company 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 - High Grade Materials Company in Greenville, MI

High Grade Materials Company
9266 Snows Lake Rd
Greenville, MI 48838

Business Industry

Ready-Mix Concrete Manufacturing (NAICS code 327320)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MI-03

Industry PPP Comparison Statistics

Nationwide, 1,205 businesses in the "Ready-Mix Concrete Manufacturing" industry received a total of $443,693,471.00 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 26 employees, 91% lower than High Grade Materials Company's reported 285 employees, and received an average PPP loan of $368,210, 91% lower than this company's loan of $4.15M.

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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Source: www.federalpay.org/paycheck-protection-program/high-grade-materials-company-greenville-mi