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PPP Loan Data — Newco Design Build, LLC, Grand Rapids, MI

SBA PPP loan data, payroll data, and salaries for Newco Design Build, LLC
MI

Newco Design Build, LLC

Entity: Limited Liability Company (LLC)

Industry: Commercial and Institutional Building Construction

Location: Grand Rapids, MI

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Newco Design Build, LLC is a limited liability company (LLC) located at 4131 Roger B Chaffee Memorial Blvd in Grand Rapids, Michigan that received a Coronavirus-related PPP loan from the SBA of $764,300.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$764,300

Jobs Retained:

0 Unreported

Loan Approved:

2020-04-09

Lender:

LAKE MICHIGAN CU

Newco Design Build, LLC received a Paycheck Protection Loan of $764,300 through LAKE MICHIGAN CU, which was approved in April, 2020.

2019 Payroll Estimations based On PPP Amount:

Assuming all employees were paid over the $100k eligibility cap, the minimum number of employees this company must have had in 2019 to qualify for the loan range received is 0.

Based on standard PPP eligibility rules, Newco Design Build, LLC's total 2019 payroll expenses were approximately $3.67M in order to qualify for the PPP loan amount received.

Unlike most businesses, Newco Design Build, LLC's PPP data does not report the number of jobs retained by their receipt of the Paycheck Protection Loan (some banks did not release this infomation from their loan applications). Without this data, per-employee payrolls for this company cannot be estimated.

Business Information - Newco Design Build, LLC in Grand Rapids, MI

Newco Design Build, LLC
4131 Roger B Chaffee Memorial Blvd
Grand Rapids, MI 49548

Business Industry

Commercial and Institutional Building Construction (NAICS code 236220)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MI-02

Similar Companies near Grand Rapids

In the Grand Rapids area, 8 businesses in the "Commercial and Institutional Building Construction" industry received a PPP loan. These local businesses reported an average of 32 employees (compared to this company's 0) and received an average PPP loan of $1,060,547 (compared to this company's $764,300).

Industry PPP Comparison Statistics

Nationwide, 39,925 businesses in the "Commercial and Institutional Building Construction" industry received a total of $8,114,153,480.00 in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 2% of the total PPP funding allocated.

PPP recipients in this industry report an average of 13 employees, and received an average PPP loan of $203,235, 73% lower than this company's loan of $764,300.

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. 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/newco-design-build-llc-grand-rapids-mi