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PPP Loan Data — Norris Services LLC,
Kalamazoo, MI
Norris Services LLC
Entity: Limited Liability Company (LLC)
Industry: Plumbing, Heating, and Air-Conditioning Contractors
Location: Kalamazoo, MI
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Norris Services LLC is a limited liability company (LLC) located at 5455 Gull Rd Ste D Pmb 320 in Kalamazoo, Michigan that received a Coronavirus-related PPP loan from the SBA of $40,800.00 in March, 2021.
$
PPP Loan Information
Loan #4666188602
Loan Size:
Jobs Retained:
7Loan Approved:
2021-03-18Loan Status:
Ongoing LoanLender:
The Huntington National BankNorris Services LLC in Kalamazoo, MI received a Paycheck Protection Loan of $40,800 through The Huntington National 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.
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 MoreUnderstanding 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 MoreBased 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, Norris Services LLC's 2019 payroll expenses are estimated to be at least $195,840.
Based on their reported 7 jobs retained, this equals an estimated average yearly compensation of $27,977 per employee1
Reported PPP Proceed Usage:
On the PPP application, Norris Services LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $40,800
Business Information - Norris Services LLC in Kalamazoo, MI
5455 Gull Rd Ste D Pmb 320
Kalamazoo, MI 49048
Business Industry:
Plumbing, Heating, and Air-Conditioning Contractors
NAICS code 238220
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Kalamazoo
In the Kalamazoo area, 18 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a PPP loan. These local businesses reported an average of 46 employees (compared to this company's 7) and received an average PPP loan of $643,062 (compared to this company's $40,800).
Similar Nearby Businesses Who Received PPP Funding:
JP Heating & Air Conditioning Inc
Kalamazoo, MI
R. W. Lapine, Inc
Kalamazoo, MI
Experienced Plumbing
Kalamazoo, MI
Steve Chapman DBA SC Drain Cleaning
Dowagiac, MI
Dowagiac Heating & Air Conditioning, LLC
Dowagiac, MI
Engineering Plus, Inc
Kalamazoo, MI
Kalamazoo Mechanical, Inc
Kalamazoo, MI
Patterson Plumbing Services, Inc
Kalamazoo, MI
Industry PPP Comparison Statistics
Nationwide, 103,844 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a total of $13.03B 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 10 employees, 43% higher than Norris Services LLC's reported 7 employees, and received an average PPP loan of $125,455, 207% higher than this company's loan of $40,800.
Norris Services LLC
Entity: Limited Liability Company (LLC)
Industry: Plumbing, Heating, and Air-Conditioning Contractors
Location: Kalamazoo, MI
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Norris Services LLC is a limited liability company (LLC) located at 5455 Gull Rd Suite D #320 in Kalamazoo, Michigan that received a Coronavirus-related PPP loan from the SBA of $48,700.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least six people during the applicable loan loan period.
$
PPP Loan Information
Loan #7329097007
Loan Size:
Jobs Retained:
6Loan Approved:
2020-04-07Loan Status:
Paid in Full or ForgivenLender:
The Huntington National BankNorris Services LLC in Kalamazoo, MI received a Paycheck Protection Loan of $48,700 through The Huntington National Bank, 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 November, 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 MoreUnderstanding 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 MoreBased 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, Norris Services LLC's 2019 payroll expenses are estimated to be at least $233,760.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $38,960 per employee1
Reported PPP Proceed Usage:
On the PPP application, Norris Services LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $48,700
Business Information - Norris Services LLC in Kalamazoo, MI
5455 Gull Rd Suite D #320
Kalamazoo, MI 49048
Business Industry:
Plumbing, Heating, and Air-Conditioning Contractors
NAICS code 238220
Business Owner Demographics
Race: White
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: N
Rural / Urban: Urban
Similar Companies near Kalamazoo
In the Kalamazoo area, 18 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a PPP loan. These local businesses reported an average of 46 employees (compared to this company's 6) and received an average PPP loan of $643,062 (compared to this company's $48,700).
Similar Nearby Businesses Who Received PPP Funding:
JP Heating & Air Conditioning Inc
Kalamazoo, MI
R. W. Lapine, Inc
Kalamazoo, MI
Experienced Plumbing
Kalamazoo, MI
Steve Chapman DBA SC Drain Cleaning
Dowagiac, MI
Dowagiac Heating & Air Conditioning, LLC
Dowagiac, MI
Engineering Plus, Inc
Kalamazoo, MI
Kalamazoo Mechanical, Inc
Kalamazoo, MI
Patterson Plumbing Services, Inc
Kalamazoo, MI
Industry PPP Comparison Statistics
Nationwide, 103,844 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a total of $13.03B 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 10 employees, 67% higher than Norris Services LLC's reported 6 employees, and received an average PPP loan of $125,455, 158% higher than this company's loan of $48,700.
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.
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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