PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Moellering Holdings Inc, Wixom, MI

ALERT: There are 2 PPP loans for a total of $5.62M in our database for businesses with the name "Moellering Holdings Inc" in Wixom, MI. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Moellering Holdings Inc
MI

Moellering Holdings Inc

Entity: Corporation

Industry: Special Die and Tool, Die Set, Jig, and Fixture Manufacturing

Location: Wixom, MI

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Moellering Holdings Inc is a corporation located at 30893 Century Dr in Wixom, Michigan that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in February, 2021.

The company has reported itself as a male owned business, and employed at least 226 people during the applicable loan loan period.

$ PPP Loan Information Loan #7367678404

Loan Size:

$2M

Jobs Retained:

226

Loan Approved:

2021-02-11

Loan Status:

Ongoing Loan

Lender:

Comerica Bank

Moellering Holdings Inc in Wixom, MI received a Paycheck Protection Loan of $2M through Comerica Bank, which was approved in February, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Moellering Holdings Inc's 2019 payroll expenses are estimated to be at least $9.6M.

Based on their reported 226 jobs retained, this equals an estimated average yearly compensation of $42,478 per employee1

Reported PPP Proceed Usage:

On the PPP application, Moellering Holdings Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,999,998
  • Utilities: $1
Because the loan received by Moellering Holdings Inc 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 - Moellering Holdings Inc in Wixom, MI

Moellering Holdings Inc
30893 Century Dr
Wixom, MI 48393

Business Owner Demographics

Race: Unreported

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: Y

Rural / Urban: Urban

Oakland County, MI — SBA Office 0515 — Congressional District: MI-11

Similar Companies near Wixom

In the Wixom area, 7 businesses in the "Special Die and Tool, Die Set, Jig, and Fixture Manufacturing" industry received a PPP loan. These local businesses reported an average of 43 employees (compared to this company's 226) and received an average PPP loan of $408,152 (compared to this company's $2M).

Industry PPP Comparison Statistics

Nationwide, 2,182 businesses in the "Special Die and Tool, Die Set, Jig, and Fixture Manufacturing" industry received a total of $591,435,924.00 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 21 employees, 91% lower than Moellering Holdings Inc's reported 226 employees, and received an average PPP loan of $271,052, 86% lower than this company's loan of $2M.

SBA PPP loan data, payroll data, and salaries for Moellering Holdings, Inc
MI

Moellering Holdings, Inc

Entity: Corporation

Industry: Other Professional Equipment and Supplies Merchant Wholesalers

Location: Wixom, MI

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Moellering Holdings, Inc is a corporation located at 30893 Century Drive in Wixom, Michigan that received a Coronavirus-related PPP loan from the SBA of $3,623,100.00 in April, 2020.

The company has reported itself as a male owned business, and employed at least 240 people during the applicable loan loan period.

$ PPP Loan Information Loan #1596017307

Loan Size:

$3.62M

Jobs Retained:

240

Loan Approved:

2020-04-28

Loan Status:

Ongoing Loan

Lender:

Comerica Bank

Moellering Holdings, Inc in Wixom, MI received a Paycheck Protection Loan of $3.62M through Comerica Bank, which was approved in April, 2020.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Moellering Holdings, Inc's 2019 payroll expenses are estimated to be at least $17.39M.

Based on their reported 240 jobs retained, this equals an estimated average yearly compensation of $72,462 per employee1

Reported PPP Proceed Usage:

On the PPP application, Moellering Holdings, Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $2,898,548
  • Mortgage Interest: $724,552
Because the loan received by Moellering Holdings, Inc 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 - Moellering Holdings, Inc in Wixom, MI

Moellering Holdings, Inc
30893 Century Drive
Wixom, MI 48393

Business Owner Demographics

Race: Unreported

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: Y

Rural / Urban: Urban

Oakland County, MI — SBA Office 0515 — Congressional District: MI-11

Industry PPP Comparison Statistics

Nationwide, 2,012 businesses in the "Other Professional Equipment and Supplies Merchant Wholesalers" industry received a total of $261,780,718.00 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 11 employees, 95% lower than Moellering Holdings, Inc's reported 240 employees, and received an average PPP loan of $130,110, 96% lower than this company's loan of $3.62M.

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. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. 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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Source: www.federalpay.org/paycheck-protection-program/moellering-holdings-inc-wixom-mi