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PPP Loan Data — Inontime, LLC, Zeeland, MI

SBA PPP loan data, payroll data, and salaries for Inontime, LLC
MI

Inontime, LLC

Entity: Limited Liability Company (LLC)

Industry: Specialized Freight (except Used Goods) Trucking, Local

Location: Zeeland, MI

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Inontime, LLC is a limited liability company (LLC) located at 7900 Logistics Dr in Zeeland, Michigan that received a Coronavirus-related PPP loan from the SBA of $3,907,600.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.91M

Jobs Retained:

349

Loan Approved:

2020-04-09

Lender:

FIFTH THIRD BANK

Inontime, LLC received a Paycheck Protection Loan of $3.91M through FIFTH THIRD BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Inontime, LLC's total 2019 payroll expenses were approximately $18.76M in order to qualify for the PPP loan amount received.

Based on their reported 349 jobs retained, this equals an estimated average yearly compensation of $53,743 per employee1.

Because the loan received by Inontime, LLC 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 - Inontime, LLC in Zeeland, MI

Inontime, LLC
7900 Logistics Dr
Zeeland, MI 49464

Business Industry

Specialized Freight (except Used Goods) Trucking, Local (NAICS code 484220)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MI-02

Similar Companies near Zeeland

In the Zeeland area, 2 businesses in the "Specialized Freight (except Used Goods) Trucking, Local" industry received a PPP loan. These local businesses reported an average of 175 employees (compared to this company's 349) and received an average PPP loan of $2,001,800 (compared to this company's $3.91M).

Similar Nearby Businesses Who Received PPP Funding:

Ken Kamps Trucking Limited
Zeeland, MI

$96,000 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 15,820 businesses in the "Specialized Freight (except Used Goods) Trucking, Local" industry received a total of $1,349,363,237.00 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 7 employees, 98% lower than Inontime, LLC's reported 349 employees, and received an average PPP loan of $85,295, 98% lower than this company's loan of $3.91M.

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.

Search FederalPay's Full PPP Loan Database

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/inontime-llc-zeeland-mi