PPP Loan Data — HME, Inc, Wyoming, MI
HME, Inc is a subchapter s corporation located at 1950 Byron Center Ave in Wyoming, Michigan that received a Coronavirus-related PPP loan from the SBA of $2,271,100.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
HME, Inc in Wyoming, MI received a Paycheck Protection Loan of $2.27M through Macatawa Bank, which was approved in April, 2020.
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, HME, Inc's 2019 payroll expenses are estimated to be at least $10.9M.
Based on their reported 162 jobs retained, this equals an estimated average yearly compensation of $67,292 per employee1
Reported PPP Proceed Usage:
On the PPP application, HME, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,271,100
Business Information - HME, Inc in Wyoming, MI
1950 Byron Center Ave
Wyoming, MI 49519
Heavy Duty Truck Manufacturing
NAICS code 336120
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 903 businesses in the "Heavy Duty Truck Manufacturing" industry received a total of $100.26M 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 9 employees, 94% lower than HME, Inc's reported 162 employees, and received an average PPP loan of $111,030, 95% lower than this company's loan of $2.27M.
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Footnotes & Information
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