PPP Loan Data — Morley Companies, Incorporated, Saginaw, MI
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
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.
Business Information - Morley Companies, Incorporated in Saginaw, MI
1 Morley Plaza
Saginaw, MI 48603
Other Direct Selling Establishments (NAICS code 454390)
Business Owner Demographics
Race / Ethnicity: WHITE
Veteran Status: UnreportedCongressional 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
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.
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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