PPP Loan Data — JP Precision Inc, Harrison Twp, MI
JP Precision Inc is a subchapter s corporation located at 41239 Irwin Dr in Harrison Twp, Michigan that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in May, 2020.
The company has reported itself as a male owned business, and employed at least four people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:PNC Bank, National Association
JP Precision Inc in Harrison Twp, MI received a Paycheck Protection Loan of $25,000 through PNC 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
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, JP Precision Inc's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, JP Precision Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - JP Precision Inc in Harrison Twp, MI
41239 Irwin Dr
Harrison Twp, MI 48045
NAICS code 999990
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Harrison Twp
In the Harrison Twp area, 12 businesses in the "Unclassified Establishments" industry received a PPP loan. These local businesses reported an average of 7 employees (compared to this company's 4) and received an average PPP loan of $29,609 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Davinci Of Michigan LLC
Harrison Township, MI
BEE Well Meadery LLC
Harrison Township, MI
Thomas Home Enhancement LLC
JJ Rogco LLC
Dipilla & Associates, Inc
JMW Creative LLC
Hallwood Of Macomb Inc
Industry PPP Comparison Statistics
Nationwide, 85,647 businesses in the "Unclassified Establishments" industry received a total of $3.67B 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 10 employees, 150% higher than JP Precision Inc's reported 4 employees, and received an average PPP loan of $42,878, 72% higher than this company's loan of $25,000.
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Footnotes & Information
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