PPP Loan Data — M. J. Van Damme Trucking Inc, Gwinn, MI
M. J. Van Damme Trucking Inc is a corporation located at Po Box 1172 in Gwinn, Michigan that received a Coronavirus-related PPP loan from the SBA of $2,079,112.00 in April, 2020.
The company has reported itself as a White female owned business, and employed at least 133 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:First Bank, Upper Michigan
M. J. Van Damme Trucking Inc in Gwinn, MI received a Paycheck Protection Loan of $2.08M through First Bank, Upper Michigan, 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, M. J. Van Damme Trucking Inc's 2019 payroll expenses are estimated to be at least $9.98M.
Based on their reported 133 jobs retained, this equals an estimated average yearly compensation of $75,036 per employee1
Reported PPP Proceed Usage:
On the PPP application, M. J. Van Damme Trucking Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,079,112
Business Information - M. J. Van Damme Trucking Inc in Gwinn, MI
Po Box 1172
Gwinn, MI 49841
Site Preparation Contractors
NAICS code 238910
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Gwinn
In the Gwinn area, 2 businesses in the "Site Preparation Contractors" industry received a PPP loan. These local businesses reported an average of 68 employees (compared to this company's 133) and received an average PPP loan of $1,046,409 (compared to this company's $2.08M).
Similar Nearby Businesses Who Received PPP Funding:
Mike Wills Excavating & Trucking, Inc
Industry PPP Comparison Statistics
Nationwide, 30,927 businesses in the "Site Preparation Contractors" industry received a total of $4.31B 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 12 employees, 91% lower than M. J. Van Damme Trucking Inc's reported 133 employees, and received an average PPP loan of $139,293, 93% lower than this company's loan of $2.08M.
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Footnotes & Information
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