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PPP Loan Data — Mars Advertising, Inc., Southfield, MI

SBA PPP loan data, payroll data, and salaries for Mars Advertising, Inc.
MI

Mars Advertising, Inc.

Entity: Subchapter S Corporation

Industry: Advertising Agencies

Location: Southfield, MI

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Mars Advertising, Inc. is a subchapter s corporation located at 25200 Telegraph Road in Southfield, Michigan that received a Coronavirus-related PPP loan from the SBA of $5,120,190.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$5.12M

Jobs Retained:

283

Loan Approved:

2020-04-09

Lender:

JPMORGAN CHASE BANK, NATIONAL ASSOCIATION

Mars Advertising, Inc. received a Paycheck Protection Loan of $5.12M through JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Mars Advertising, Inc.'s total 2019 payroll expenses were approximately $24.58M in order to qualify for the PPP loan amount received.

Based on their reported 283 jobs retained, this equals an estimated average yearly compensation of $86,844 per employee1.

Because the loan received by Mars Advertising, 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 - Mars Advertising, Inc. in Southfield, MI

Mars Advertising, Inc.
25200 Telegraph Road
Southfield, MI 48033

Business Industry

Advertising Agencies (NAICS code 541810)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MI-14

Similar Companies near Southfield

In the Southfield area, 3 businesses in the "Advertising Agencies" industry received a PPP loan. These local businesses reported an average of 95 employees (compared to this company's 283) and received an average PPP loan of $1,889,274 (compared to this company's $5.12M).

Industry PPP Comparison Statistics

Nationwide, 11,928 businesses in the "Advertising Agencies" industry received a total of $1,505,946,886.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 8 employees, 97% lower than Mars Advertising, Inc.'s reported 283 employees, and received an average PPP loan of $126,253, 98% lower than this company's loan of $5.12M.

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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA.

Search FederalPay's Full PPP Loan Database

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/mars-advertising-inc-southfield-mi