PPP Loan Data — Miracle Software Systems Inc, Novi, MI
Miracle Software Systems Inc is a corporation located at 45625 Grand River Ave in Novi, Michigan that received a Coronavirus-related PPP loan from the SBA of $8,265,704.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 496 people during the applicable loan loan period.
$ PPP Loan Information
Lender:JPMORGAN CHASE BANK, NATIONAL ASSOCIATION
Miracle Software Systems Inc received a Paycheck Protection Loan of $8.27M through JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Miracle Software Systems Inc's total 2019 payroll expenses were approximately $39.68M in order to qualify for the PPP loan amount received.
Based on their reported 496 jobs retained, this equals an estimated average yearly compensation of $79,991 per employee1.
Business Information - Miracle Software Systems Inc in Novi, MI
45625 Grand River Ave
Novi, MI 48374
Custom Computer Programming Services (NAICS code 541511)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: MALE OWNED
Veteran Status: NON-VETERANCongressional District: MI-11
Similar Companies near Novi
In the Novi area, 14 businesses in the "Custom Computer Programming Services" industry received a PPP loan. These local businesses reported an average of 54 employees (compared to this company's 496) and received an average PPP loan of $915,783 (compared to this company's $8.27M).
Similar Nearby Businesses Who Received PPP Funding:
Custom Business Solutions Inc
Superior Tech, Inc.
Mifi Systems Inc
Chameleon Power, Inc.
Acer Data Labs Inc
Addon Technologies, Inc.
Noble Child, Inc
Industry PPP Comparison Statistics
Nationwide, 24,641 businesses in the "Custom Computer Programming Services" industry received a total of $4,943,790,485.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 11 employees, 98% lower than Miracle Software Systems Inc's reported 496 employees, and received an average PPP loan of $200,633, 98% lower than this company's loan of $8.27M.
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.
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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