PPP Loan Data — Kentwood Packaging Corporation, Walker, MI
Kentwood Packaging Corporation is a corporation located at 2102 Avastar Parkway Nw in Walker, Michigan that received a Coronavirus-related PPP loan from the SBA of $1,977,129.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:The Huntington National Bank
Kentwood Packaging Corporation in Walker, MI received a Paycheck Protection Loan of $1.98M through The Huntington National Bank, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in February, 2021.
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, Kentwood Packaging Corporation's 2019 payroll expenses are estimated to be at least $9.49M.
Based on their reported 164 jobs retained, this equals an estimated average yearly compensation of $57,867 per employee1
Reported PPP Proceed Usage:
On the PPP application, Kentwood Packaging Corporation reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,977,129
Business Information - Kentwood Packaging Corporation in Walker, MI
2102 Avastar Parkway Nw
Walker, MI 49544
Packaging and Labeling Services
NAICS code 561910
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 2,744 businesses in the "Packaging and Labeling Services" industry received a total of $380.14M 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, 91% lower than Kentwood Packaging Corporation's reported 164 employees, and received an average PPP loan of $138,534, 93% lower than this company's loan of $1.98M.
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Footnotes & Information
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