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PPP Loan Data — Malace & Associates, Troy, MI

SBA PPP loan data, payroll data, and salaries for Malace & Associates
MI

Malace & Associates

Entity: Subchapter S Corporation

Industry: Temporary Help Services

Location: Troy, MI

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Malace & Associates is a subchapter s corporation located at 5700 Crooks Road in Troy, Michigan that received a Coronavirus-related PPP loan from the SBA of $3,605,120.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.61M

Jobs Retained:

500

Loan Approved:

2020-04-09

Lender:

METABANK, NATIONAL ASSOCIATION

Malace & Associates in Troy, MI received a Paycheck Protection Loan of $3.61M through METABANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Malace & Associates' total 2019 payroll expenses were approximately $17.3M in order to qualify for the PPP loan amount received.

Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $34,609 per employee1.

Because the loan received by Malace & Associates 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 - Malace & Associates in Troy, MI

Malace & Associates
5700 Crooks Road
Troy, MI 48098

Business Industry

Temporary Help Services (NAICS code 561320)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MI-11

Industry PPP Comparison Statistics

Nationwide, 4,404 businesses in the "Temporary Help Services" industry received a total of $2,681,304,257.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 1% of the total PPP funding allocated.

PPP recipients in this industry report an average of 61 employees, 88% lower than Malace & Associates' reported 500 employees, and received an average PPP loan of $608,834, 83% lower than this company's loan of $3.61M.

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/malace-and-associates-troy-mi