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PPP Loan Data — Michigan Milk Producers Association,
Novi, 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:
Jobs Retained:
350Loan Approved:
2020-04-10Lender:
JPMORGAN CHASE BANK, NATIONAL ASSOCIATIONMichigan 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.
Business Information - Michigan Milk Producers Association in Novi, MI
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-11Similar 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
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.
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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