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PPP Loan Data — Modular Transportation Co.,
Grand Rapids, MI
Modular Transportation Co.
Entity: Subchapter S Corporation
Industry: General Freight Trucking, Long-Distance, Truckload
Location: Grand Rapids, MI
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Modular Transportation Co. is a subchapter s corporation located at 393 Mart St in Grand Rapids, Michigan that received a Coronavirus-related PPP loan from the SBA of $2,731,700.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 180 people during the applicable loan loan period.
$ PPP Loan Information
Loan Size:
Jobs Retained:
180Loan Approved:
2020-04-04Lender:
MACATAWA BANKModular Transportation Co. received a Paycheck Protection Loan of $2.73M through MACATAWA BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Modular Transportation Co.'s total 2019 payroll expenses were approximately $13.11M in order to qualify for the PPP loan amount received.
Based on their reported 180 jobs retained, this equals an estimated average yearly compensation of $72,845 per employee1.
Business Information - Modular Transportation Co. in Grand Rapids, MI
393 Mart St
Grand Rapids, MI 49548
Business Industry
General Freight Trucking, Long-Distance, Truckload (NAICS code 484121)
Business Owner Demographics
Race / Ethnicity: WHITE
Gender: MALE OWNED
Veteran Status: NON-VETERAN
Congressional District: MI-02Similar Companies near Grand Rapids
In the Grand Rapids area, 23 businesses in the "General Freight Trucking, Long-Distance, Truckload" industry received a PPP loan. These local businesses reported an average of 34 employees (compared to this company's 180) and received an average PPP loan of $478,563 (compared to this company's $2.73M).
Similar Nearby Businesses Who Received PPP Funding:
Onit Transportation Inc
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Mehmed Jasarevic DBA Fmj Express
Wyoming, MI
H & A Services LLC
Grand Rapids, MI
Titan Transportation Services Inc.
Grand Rapids, MI
Jenny Transportation LLC
Grand Rapids, MI
M. C. Van Kampen Trucking, Inc.
Grand Rapids, MI
Commerce Distribution Center Inc
Grand Rapids, MI
Nermin Pavlica
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Nermin Mujanovic
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Industry PPP Comparison Statistics
Nationwide, 30,410 businesses in the "General Freight Trucking, Long-Distance, Truckload" industry received a total of $2,441,673,488.00 in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 0% of the total PPP funding allocated.
PPP recipients in this industry report an average of 6 employees, 97% lower than Modular Transportation Co.'s reported 180 employees, and received an average PPP loan of $80,292, 97% lower than this company's loan of $2.73M.
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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