PPP Loan Data — Hype Brand Management, Sturgis, MI
Hype Brand Management is a partnership located at 172 W Chicago Rd in Sturgis, Michigan that received a Coronavirus-related PPP loan from the SBA of $46,830.00 in January, 2021.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Sturgis Bank & Trust Company
Hype Brand Management in Sturgis, MI received a Paycheck Protection Loan of $46,830 through Sturgis Bank & Trust Company, 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
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, Hype Brand Management's 2019 payroll expenses are estimated to be at least $224,784.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $74,928 per employee1
Reported PPP Proceed Usage:
On the PPP application, Hype Brand Management reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,830
Business Information - Hype Brand Management in Sturgis, MI
172 W Chicago Rd
Sturgis, MI 49091
NAICS code 541810
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Rural
Similar Companies near Sturgis
In the Sturgis area, 2 businesses in the "Advertising Agencies" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 3) and received an average PPP loan of $46,242 (compared to this company's $46,830).
Similar Nearby Businesses Who Received PPP Funding:
Hype Brand Management LLC
Industry PPP Comparison Statistics
Nationwide, 24,012 businesses in the "Advertising Agencies" industry received a total of $2.39B 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 7 employees, 133% higher than Hype Brand Management's reported 3 employees, and received an average PPP loan of $99,714, 113% higher than this company's loan of $46,830.
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Footnotes & Information
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