PPP Loan Data — Next In Line Publishing, Livonia, MI
Next In Line Publishing is a limited liability company (LLC) located in Livonia, Michigan that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Celtic Bank Corporation
Next In Line Publishing in Livonia, MI received a Paycheck Protection Loan of $25,000 through Celtic Bank Corporation, which was approved in May, 2020.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 1. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
Reported PPP Proceed Usage:
On the PPP application, Next In Line Publishing reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $18,750
- Utilities: $3,125
- Rent: $3,125
Business Information - Next In Line Publishing in Livonia, MI
* Full address is redacted to protect the privacy of individuals.
All Other Publishers
NAICS code 511199
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Livonia
In the Livonia area, 2 businesses in the "All Other Publishers" industry received a PPP loan. These local businesses reported an average of 1 employees (compared to this company's 1) and received an average PPP loan of $21,125 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Industry PPP Comparison Statistics
Nationwide, 5,560 businesses in the "All Other Publishers" industry received a total of $323.85M 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 5 employees, 400% higher than Next In Line Publishing's reported 1 employees, and received an average PPP loan of $58,247, 133% higher than this company's loan of $25,000.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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