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PPP Loan Data — Morley Companies, Incorporated, Saginaw, MI

SBA PPP loan data, payroll data, and salaries for Morley Companies, Incorporated
MI

Morley Companies, Incorporated

Entity: Corporation

Industry: Other Direct Selling Establishments

Location: Saginaw, MI

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Morley Companies, Incorporated is a corporation located at 1 Morley Plaza in Saginaw, Michigan that received a Coronavirus-related PPP loan from the SBA of $10,000,000.00 in July, 2020.

The company has reported itself as a White owned business, and employed at least 500 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$10M

Jobs Retained:

500

Loan Approved:

2020-07-31

Lender:

THE HUNTINGTON NATIONAL BANK

Morley Companies, Incorporated in Saginaw, MI received a Paycheck Protection Loan of $10M through THE HUNTINGTON NATIONAL BANK, which was approved in July, 2020.

Based on standard PPP eligibility rules, Morley Companies, Incorporated's total 2019 payroll expenses were approximately $48M in order to qualify for the PPP loan amount received.

Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $96,000 per employee1.

Because the loan received by Morley Companies, Incorporated 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 - Morley Companies, Incorporated in Saginaw, MI

Morley Companies, Incorporated
1 Morley Plaza
Saginaw, MI 48603

Business Industry

Other Direct Selling Establishments (NAICS code 454390)

Business Owner Demographics

Race / Ethnicity: WHITE

Gender: Unreported

Veteran Status: Unreported

Congressional District: MI-05

Similar Companies near Saginaw

In the Saginaw area, 2 businesses in the "Other Direct Selling Establishments" industry received a PPP loan. These local businesses reported an average of 253 employees (compared to this company's 500) and received an average PPP loan of $5,025,559 (compared to this company's $10M).

Similar Nearby Businesses Who Received PPP Funding:

STV Sales Inc
Saginaw, MI

$51,117 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 11,977 businesses in the "Other Direct Selling Establishments" industry received a total of $632,841,121.00 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 5 employees, 99% lower than Morley Companies, Incorporated's reported 500 employees, and received an average PPP loan of $52,838, 99% lower than this company's loan of $10M.

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.

Search FederalPay's Full PPP Loan Database

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/morley-companies-incorporated-saginaw-mi