PPP Loan Data — Michigan Education Special Services Association, East Lansing, MI
Michigan Education Special Services Association is a non-profit organization located at Po Box2560 in East Lansing, Michigan that received a Coronavirus-related PPP loan from the SBA of $6,130,300.00 in April, 2020.
$ PPP Loan Information
Michigan Education Special Services Association in East Lansing, MI received a Paycheck Protection Loan of $6.13M through COMERICA BANK, which was approved in April, 2020.
The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 275 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.
2019 Payroll Estimations based On PPP Amount:
Assuming all employees were paid over the $100k eligibility cap, the minimum number of employees this company must have had in 2019 to qualify for the loan range received is 294.
Based on standard PPP eligibility rules, Michigan Education Special Services Association's total 2019 payroll expenses were approximately $29.43M (not accounting for salary amounts > $100k) in order to qualify for the PPP loan amount received.
Because the 275 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Business Information - Michigan Education Special Services Association in East Lansing, MI
East Lansing, MI 48826
Insurance Agencies and Brokerages (NAICS code 524210)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: MI-08
Similar Companies near East Lansing
In the East Lansing area, 4 businesses in the "Insurance Agencies and Brokerages" industry received a PPP loan. These local businesses reported an average of 71 employees (compared to this company's 275) and received an average PPP loan of $1,563,085 (compared to this company's $6.13M).
Similar Nearby Businesses Who Received PPP Funding:
Yellow Doors LLC
Eaton Rapids, MI
Kitsmiller Insurance Inc
Eaton Rapids, MI
Steve Bartshe State Farm Agency Inc
Eaton Rapids, MI
Industry PPP Comparison Statistics
Nationwide, 90,958 businesses in the "Insurance Agencies and Brokerages" industry received a total of $4,494,836,388.00 in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 4 employees, 99% lower than Michigan Education Special Services Association's reported 275 employees, and received an average PPP loan of $49,417, 99% lower than this company's loan of $6.13M.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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