PPP Loan Data — Metro Man II Inc, Redford, MI
Metro Man II Inc is a corporation located at 25440 5 Mile Road in Redford, Michigan that received a Coronavirus-related PPP loan from the SBA of $1,914,335.00 in May, 2020.
The company has reported itself as a male owned business, and employed at least 232 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Fifth Third Bank
Metro Man II Inc in Redford, MI received a Paycheck Protection Loan of $1.91M through Fifth Third 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, Metro Man II Inc's 2019 payroll expenses are estimated to be at least $9.19M.
Based on their reported 232 jobs retained, this equals an estimated average yearly compensation of $39,607 per employee1
Reported PPP Proceed Usage:
On the PPP application, Metro Man II Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,914,335
Business Information - Metro Man II Inc in Redford, MI
Business Owner Demographics
Ethnicity: Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
PPP recipients in this industry report an average of 0 employees, 100% lower than Metro Man II Inc's reported 232 employees, and received an average PPP loan of $0, 100% lower than this company's loan of $1.91M.
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Footnotes & Information
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