PPP Loan Data — Miller Industries Management Group, Inc, Fenton, MI
Miller Industries Management Group, Inc
Entity: Limited Liability Company (LLC)
Industry: Air-Conditioning and Warm Air Heating Equipment and Commercial and Industrial Refrigeration Equipment Manufacturing
Location: Fenton, MITweet This • Search All PPP Data
Miller Industries Management Group, Inc is a limited liability company (LLC) located at 3070 W Thompson Rd in Fenton, Michigan that received a Coronavirus-related PPP loan from the SBA of $1,851,600.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Miller Industries Management Group, Inc in Fenton, MI received a Paycheck Protection Loan of $1.85M through Comerica Bank, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in June, 2021.
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, Miller Industries Management Group, Inc's 2019 payroll expenses are estimated to be at least $8.89M.
Based on their reported 145 jobs retained, this equals an estimated average yearly compensation of $61,294 per employee1
Reported PPP Proceed Usage:
On the PPP application, Miller Industries Management Group, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,481,310
- Mortgage Interest: $370,290
Business Information - Miller Industries Management Group, Inc in Fenton, MI
3070 W Thompson Rd
Fenton, MI 48430
Air-Conditioning and Warm Air Heating Equipment and Commercial and Industrial Refrigeration Equipment Manufacturing
NAICS code 333415
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 2,606 businesses in the "Air-Conditioning and Warm Air Heating Equipment and Commercial and Industrial Refrigeration Equipment Manufacturing" industry received a total of $490.48M 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 16 employees, 89% lower than Miller Industries Management Group, Inc's reported 145 employees, and received an average PPP loan of $188,212, 90% lower than this company's loan of $1.85M.
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Footnotes & Information
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