PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Michael Otis, Pontiac, MI

SBA PPP loan data, payroll data, and salaries for Michael Otis
MI

Michael Otis

Entity: Independent Contractor

Industry: Commercial and Institutional Building Construction

Location: Pontiac, MI

Search All PPP Data

Michael Otis is an independent contractor located in Pontiac, Michigan that received a Coronavirus-related PPP loan from the SBA of $8,332.00 in May, 2021.

The company has reported itself as a Black or african american male owned business, and employed at least one person during the applicable loan loan period.

$ PPP Loan Information
Loan #1358649000

Loan Size:

$8,332

Jobs Retained:

1

Loan Approved:

2021-05-13

Loan Status:

Ongoing Loan

Lender:

Prestamos CDFI, LLC

Michael Otis in Pontiac, MI received a Paycheck Protection Loan of $8,332 through Prestamos CDFI, LLC, which was approved in May, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA. The loan's status was last updated by the SBA in November, -0001.


PPP Calculation Note: The total PPP loan an eligible business or individual can receive is based on 2.5 times their average monthly 2019 payroll expenses, capped at $100,000 annually per employee.

Reported PPP Proceed Usage:

On the PPP application, Michael Otis reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $8,331

Business Information - Michael Otis in Pontiac, MI

Michael Otis
Pontiac, MI
* Full address is redacted to protect the privacy of individuals.

Business Industry:
Commercial and Institutional Building Construction
NAICS code 236220

Business Owner Demographics

Race: Black or African American

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: Y

Rural / Urban: Urban

Oakland County, MI — SBA Office 0515 — Congressional District: MI-14

Similar Companies near Pontiac

In the Pontiac area, 14 businesses in the "Commercial and Institutional Building Construction" industry received a PPP loan. These local businesses reported an average of 12 employees (compared to this company's 1) and received an average PPP loan of $168,958 (compared to this company's $8,332).

Industry PPP Comparison Statistics

Nationwide, 77,396 businesses in the "Commercial and Institutional Building Construction" industry received a total of $12.37B 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, 1100% higher than Michael Otis' reported 1 employees, and received an average PPP loan of $159,889, 1819% higher than this company's loan of $8,332.

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. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. 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.


Have FederalPay.org's open data tools been valuable? Consider donating!

** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/michael-otis-pontiac-mi