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PPP Loan Data — Nucraft Furniture Company, Comstock Park, MI

SBA PPP loan data, payroll data, and salaries for Nucraft Furniture Company
MI

Nucraft Furniture Company

Entity: Corporation

Industry: Wood Office Furniture Manufacturing

Location: Comstock Park, MI

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Nucraft Furniture Company is a corporation located at 5151 West River Drive in Comstock Park, Michigan that received a Coronavirus-related PPP loan from the SBA of $3,308,008.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.31M

Jobs Retained:

267

Loan Approved:

2020-04-10

Lender:

FIFTH THIRD BANK

Nucraft Furniture Company in Comstock Park, MI received a Paycheck Protection Loan of $3.31M through FIFTH THIRD BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Nucraft Furniture Company's total 2019 payroll expenses were approximately $15.88M in order to qualify for the PPP loan amount received.

Based on their reported 267 jobs retained, this equals an estimated average yearly compensation of $59,470 per employee1.

Because the loan received by Nucraft Furniture Company is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Nucraft Furniture Company in Comstock Park, MI

Nucraft Furniture Company
5151 West River Drive
Comstock Park, MI 49321

Business Industry

Wood Office Furniture Manufacturing (NAICS code 337211)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MI-03

Industry PPP Comparison Statistics

Nationwide, 424 businesses in the "Wood Office Furniture Manufacturing" industry received a total of $106,682,060.00 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 21 employees, 92% lower than Nucraft Furniture Company's reported 267 employees, and received an average PPP loan of $251,609, 92% lower than this company's loan of $3.31M.

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.

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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/nucraft-furniture-company-comstock-park-mi