PPP Loan Data — Lutheran Child & Family Services Of Michigan, Inc, Flint, MI
Lutheran Child & Family Services Of Michigan, Inc is a non-profit childcare center located at 4100 Pier North Blvd Suite A in Flint, Michigan that received a Coronavirus-related PPP loan from the SBA of $2,105,800.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Fifth Third Bank
Lutheran Child & Family Services Of Michigan, Inc in Flint, MI received a Paycheck Protection Loan of $2.11M through Fifth Third Bank, which was approved in April, 2020.
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, Lutheran Child & Family Services Of Michigan, Inc's 2019 payroll expenses are estimated to be at least $10.11M.
Based on their reported 317 jobs retained, this equals an estimated average yearly compensation of $31,886 per employee1
Reported PPP Proceed Usage:
On the PPP application, Lutheran Child & Family Services Of Michigan, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,105,800
Business Information - Lutheran Child & Family Services Of Michigan, Inc in Flint, MI
4100 Pier North Blvd Suite A
Flint, MI 48504
Child and Youth Services
NAICS code 624110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Flint
In the Flint area, 17 businesses in the "Child and Youth Services" industry received a PPP loan. These local businesses reported an average of 35 employees (compared to this company's 317) and received an average PPP loan of $253,677 (compared to this company's $2.11M).
Similar Nearby Businesses Who Received PPP Funding:
Big Brothers Big Sisters Of Flint And Genesee County
Family Promise Of Genesee County
Friends Of Berston
Industry PPP Comparison Statistics
Nationwide, 14,718 businesses in the "Child and Youth Services" industry received a total of $1.94B 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 18 employees, 94% lower than Lutheran Child & Family Services Of Michigan, Inc's reported 317 employees, and received an average PPP loan of $132,042, 94% lower than this company's loan of $2.11M.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!