PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Johnson Home Improvements LLC, Three Rivers, MI

ALERT: There are 2 PPP loans for a total of $50,000 in our database for businesses with the name "Johnson Home Improvements LLC" in Three Rivers, MI. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Johnson Home Improvements LLC
MI

Johnson Home Improvements LLC

Entity: Limited Liability Company (LLC)

Industry: Residential Remodelers

Location: Three Rivers, MI

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Johnson Home Improvements LLC is a limited liability company (LLC) located in Three Rivers, Michigan that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in February, 2021.

$ PPP Loan Information
Loan #7960868403

Loan Size:

$25,000

Jobs Retained:

1

Loan Approved:

2021-02-12

Loan Status:

Ongoing Loan

Lender:

LendingClub Bank, National Association
Likely Employment Reduction3

Johnson Home Improvements LLC in Three Rivers, MI received a Paycheck Protection Loan of $25,000 through LendingClub Bank, National Association, which was approved in February, 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.

The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 1 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.

The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 1. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.


PPP Calculation Note: The total PPP loan an eligible business or individual can receive is based on 2.5 times their average monthly 2019 payroll expenses, capped at $100,000 annually per employee.

Reported PPP Proceed Usage:

On the PPP application, Johnson Home Improvements LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $25,000

Business Information - Johnson Home Improvements LLC in Three Rivers, MI

Johnson Home Improvements LLC
Three Rivers, MI
* Full address is redacted to protect the privacy of individuals.

Business Industry:
Residential Remodelers
NAICS code 236118

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: Y

Rural / Urban: Rural

Saint Joseph County, MI — SBA Office 0515 — Congressional District: MI-06

Similar Companies near Three Rivers

In the Three Rivers area, 6 businesses in the "Residential Remodelers" industry received a PPP loan. These local businesses reported an average of 1 employees (compared to this company's 1) and received an average PPP loan of $18,196 (compared to this company's $25,000).

Industry PPP Comparison Statistics

Nationwide, 175,017 businesses in the "Residential Remodelers" industry received a total of $5.32B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.

PPP recipients in this industry report an average of 3 employees, 200% higher than Johnson Home Improvements LLC's reported 1 employees, and received an average PPP loan of $30,405, 22% higher than this company's loan of $25,000.

SBA PPP loan data, payroll data, and salaries for Johnson Home Improvements LLC
MI

Johnson Home Improvements LLC

Entity: Limited Liability Company (LLC)

Industry: Home Centers

Location: Three Rivers, MI

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Johnson Home Improvements LLC is a limited liability company (LLC) located at 228 River Dr Suite B1 in Three Rivers, Michigan that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in May, 2020.

$ PPP Loan Information
Loan #2565857401

Loan Size:

$25,000

Jobs Retained:

2

Loan Approved:

2020-05-06

Loan Status:

Ongoing Loan

Lender:

LendingClub Bank, National Association

Johnson Home Improvements LLC in Three Rivers, MI received a Paycheck Protection Loan of $25,000 through LendingClub Bank, National Association, which was approved in May, 2020.

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

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Johnson Home Improvements LLC's 2019 payroll expenses are estimated to be at least $120,000.

Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,000 per employee1

Reported PPP Proceed Usage:

On the PPP application, Johnson Home Improvements LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $25,000

Business Information - Johnson Home Improvements LLC in Three Rivers, MI

Johnson Home Improvements LLC
228 River Dr Suite B1
Three Rivers, MI 49093

Business Industry:
Home Centers
NAICS code 444110

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: Y

Rural / Urban: Rural

Saint Joseph County, MI — SBA Office 0515 — Congressional District: MI-06

Industry PPP Comparison Statistics

Nationwide, 3,151 businesses in the "Home Centers" industry received a total of $435M 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 15 employees, 650% higher than Johnson Home Improvements LLC's reported 2 employees, and received an average PPP loan of $138,053, 452% higher than this company's loan of $25,000.

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. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. 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/johnson-home-improvements-llc-three-rivers-mi