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PPP Loan Data — Kent Power, Inc., Rockford, MI

SBA PPP loan data, payroll data, and salaries for Kent Power, Inc.
MI

Kent Power, Inc.

Entity: Subchapter S Corporation

Industry: Electrical Contractors and Other Wiring Installation Contractors

Location: Rockford, MI

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Kent Power, Inc. is a subchapter s corporation located at 7800 Childsdale Ave Ne in Rockford, Michigan that received a Coronavirus-related PPP loan from the SBA of $7,687,000.00 in April, 2020.

The company has reported itself as a White female owned business.

$ PPP Loan Information

Loan Size:

$7.69M

Jobs Retained:

0 Unreported

Loan Approved:

2020-04-13

Lender:

MACATAWA BANK

Kent Power, Inc. in Rockford, MI received a Paycheck Protection Loan of $7.69M through MACATAWA BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Kent Power, Inc.'s total 2019 payroll expenses were approximately $36.9M in order to qualify for the PPP loan amount received.

Unlike most businesses, Kent Power, Inc.'s PPP data does not report the number of jobs retained by their receipt of the Paycheck Protection Loan (some banks did not release this infomation from their loan applications). Without this data, per-employee payrolls for this company cannot be estimated.

Because the loan received by Kent Power, Inc. 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 - Kent Power, Inc. in Rockford, MI

Kent Power, Inc.
7800 Childsdale Ave Ne
Rockford, MI 49341

Business Industry

Electrical Contractors and Other Wiring Installation Contractors (NAICS code 238210)

Business Owner Demographics

Race / Ethnicity: WHITE

Gender: FEMALE OWNED

Veteran Status: NON-VETERAN

Congressional District: MI-03

Industry PPP Comparison Statistics

Nationwide, 44,489 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a total of $8,060,101,877.00 in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 2% of the total PPP funding allocated.

PPP recipients in this industry report an average of 12 employees, and received an average PPP loan of $181,171, 98% lower than this company's loan of $7.69M.

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, and is published unmodified, as provided by the SBA.

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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/kent-power-inc-rockford-mi