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PPP Loan Data — Michigan Milk Producers Association, Novi, MI

SBA PPP loan data, payroll data, and salaries for Michigan Milk Producers Association
MI

Michigan Milk Producers Association

Entity: Corporation

Industry: Dairy Product (except Dried or Canned) Merchant Wholesalers

Location: Novi, MI

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Michigan Milk Producers Association is a corporation located at 41310 Bridge Street in Novi, Michigan that received a Coronavirus-related PPP loan from the SBA of $4,956,612.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$4.96M

Jobs Retained:

350

Loan Approved:

2020-04-10

Lender:

JPMORGAN CHASE BANK, NATIONAL ASSOCIATION

Michigan Milk Producers Association in Novi, MI received a Paycheck Protection Loan of $4.96M through JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Michigan Milk Producers Association's total 2019 payroll expenses were approximately $23.79M in order to qualify for the PPP loan amount received.

Based on their reported 350 jobs retained, this equals an estimated average yearly compensation of $67,976 per employee1.

Because the loan received by Michigan Milk Producers Association 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 - Michigan Milk Producers Association in Novi, MI

Michigan Milk Producers Association
41310 Bridge Street
Novi, MI 48375

Business Industry

Dairy Product (except Dried or Canned) Merchant Wholesalers (NAICS code 424430)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MI-11

Similar Companies near Novi

In the Novi area, 2 businesses in the "Dairy Product (except Dried or Canned) Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 182 employees (compared to this company's 350) and received an average PPP loan of $2,524,239 (compared to this company's $4.96M).

Similar Nearby Businesses Who Received PPP Funding:

SNF Holdings, LLC DBA Creams N' Caps Mic Higan
Novi, MI

$91,865 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 721 businesses in the "Dairy Product (except Dried or Canned) Merchant Wholesalers" industry received a total of $153,207,703.00 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 18 employees, 95% lower than Michigan Milk Producers Association's reported 350 employees, and received an average PPP loan of $212,493, 96% lower than this company's loan of $4.96M.

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, 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/michigan-milk-producers-association-novi-mi