PPP Loan Data — Mediterranean Market, Ann Arbor, MI
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Mediterranean Market is a corporation located at 4019 Stone School Rd in Ann Arbor, Michigan that received a Coronavirus-related PPP loan from the SBA of $25,125.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Cross River Bank
Mediterranean Market in Ann Arbor, MI received a Paycheck Protection Loan of $25,125 through Cross River Bank, which was approved in May, 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, Mediterranean Market's 2019 payroll expenses are estimated to be at least $120,600.
Based on their reported 14 jobs retained, this equals an estimated average yearly compensation of $8,614 per employee1
Reported PPP Proceed Usage:
On the PPP application, Mediterranean Market reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,125
Business Information - Mediterranean Market in Ann Arbor, MI
4019 Stone School Rd
Ann Arbor, MI 48108
Other Miscellaneous Durable Goods Merchant Wholesalers
NAICS code 423990
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Ann Arbor
In the Ann Arbor area, 2 businesses in the "Other Miscellaneous Durable Goods Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 8 employees (compared to this company's 14) and received an average PPP loan of $21,603 (compared to this company's $25,125).
Similar Nearby Businesses Who Received PPP Funding:
Lindsay B Dobbs
Ann Arbor, MI
Industry PPP Comparison Statistics
Nationwide, 26,568 businesses in the "Other Miscellaneous Durable Goods Merchant Wholesalers" industry received a total of $1.98B 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 7 employees, 50% lower than Mediterranean Market's reported 14 employees, and received an average PPP loan of $74,615, 197% higher than this company's loan of $25,125.
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Footnotes & Information
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