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PPP Loan Data — Neej Investments LLC, Mackinaw City, MI

ALERT: There are 2 PPP loans for a total of $49,921 in our database for businesses with the name "Neej Investments LLC" in Mackinaw City, 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 Neej Investments LLC

FRANCHISE

MI

Neej Investments LLC

Entity: Corporation

Industry: Hotels (except Casino Hotels) and Motels

Franchise: Rodeway Inn by Choice Hotels/Rodeway Inn & Suites by Choice Hotels

Location: Mackinaw City, MI

Search All PPP Data

Neej Investments LLC is a corporation located at 206 S Nicolet St in Mackinaw City, Michigan that received a Coronavirus-related PPP loan from the SBA of $29,120.00 in March, 2021. This business is a Rodeway Inn by Choice Hotels/Rodeway Inn & Suites by Choice Hotels franchise.

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

$ PPP Loan Information
Loan #9304058506

Loan Size:

$29,120

Jobs Retained:

6

Loan Approved:

2021-03-12

Loan Status:

Ongoing Loan

Lender:

Isabella Bank

Neej Investments LLC in Mackinaw City, MI received a Paycheck Protection Loan of $29,120 through Isabella Bank, which was approved in March, 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. The loan's status was last updated by the SBA in November, -0001.

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, Neej Investments LLC's 2019 payroll expenses are estimated to be at least $139,776.

Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $23,296 per employee1

Reported PPP Proceed Usage:

On the PPP application, Neej Investments LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $29,114
  • Utilities: $1

Business Information - Neej Investments LLC in Mackinaw City, MI

Neej Investments LLC
206 S Nicolet St
Mackinaw City, MI 49701

Business Industry:
Hotels (except Casino Hotels) and Motels
NAICS code 721110

Business Owner Demographics

Race: Asian

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: N

HUBZone: Y

Rural / Urban: Rural

Cheboygan County, MI — SBA Office 0515 — Congressional District: MI-01

Similar Companies near Mackinaw City

In the Mackinaw City area, 22 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a PPP loan. These local businesses reported an average of 21 employees (compared to this company's 6) and received an average PPP loan of $214,160 (compared to this company's $29,120).

Industry PPP Comparison Statistics

Nationwide, 81,995 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a total of $13.92B in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.

PPP recipients in this industry report an average of 23 employees, 283% higher than Neej Investments LLC's reported 6 employees, and received an average PPP loan of $169,748, 483% higher than this company's loan of $29,120.

SBA PPP loan data, payroll data, and salaries for Neej Investments LLC
MI

Neej Investments LLC

Entity: Corporation

Industry: Hotels (except Casino Hotels) and Motels

Location: Mackinaw City, MI

Search All PPP Data

Neej Investments LLC is a corporation located at 206 N Nicolet St. in Mackinaw City, Michigan that received a Coronavirus-related PPP loan from the SBA of $20,801.00 in April, 2020.

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

$ PPP Loan Information
Loan #8481847202

Loan Size:

$20,801

Jobs Retained:

12

Loan Approved:

2020-04-28

Loan Status:

Paid in Full or Forgiven

Lender:

Citizens National Bank of Cheboygan

Neej Investments LLC in Mackinaw City, MI received a Paycheck Protection Loan of $20,801 through Citizens National Bank of Cheboygan, which was approved in April, 2020.

This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in February, 2021.

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, Neej Investments LLC's 2019 payroll expenses are estimated to be at least $99,845.

Based on their reported 12 jobs retained, this equals an estimated average yearly compensation of $8,320 per employee1

Reported PPP Proceed Usage:

On the PPP application, Neej Investments LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $20,801

Business Information - Neej Investments LLC in Mackinaw City, MI

Neej Investments LLC
206 N Nicolet St.
Mackinaw City, MI 49701

Business Industry:
Hotels (except Casino Hotels) and Motels
NAICS code 721110

Business Owner Demographics

Race: Asian

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: N

HUBZone: Y

Rural / Urban: Rural

Cheboygan County, MI — SBA Office 0515 — Congressional District: MI-01

Similar Companies near Mackinaw City

In the Mackinaw City area, 22 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a PPP loan. These local businesses reported an average of 21 employees (compared to this company's 12) and received an average PPP loan of $214,160 (compared to this company's $20,801).

Industry PPP Comparison Statistics

Nationwide, 81,995 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a total of $13.92B in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.

PPP recipients in this industry report an average of 23 employees, 92% higher than Neej Investments LLC's reported 12 employees, and received an average PPP loan of $169,748, 716% higher than this company's loan of $20,801.

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/neej-investments-llc-mackinaw-city-mi