PPP Loan Data — Oakland Steel Inc, Sterling Heights, MI
Oakland Steel Inc
Location: Sterling Heights, MITweet This • Search All PPP Data
Oakland Steel Inc is a corporation located at 6646 Sims Dr in Sterling Heights, Michigan that received a Coronavirus-related PPP loan from the SBA of $16,600.00 in May, 2020.
The company has reported itself as a male owned business, and employed at least three people during the applicable loan loan period.
$ PPP Loan Information
Lender:PNC BANK, NATIONAL ASSOCIATION
Oakland Steel Inc received a Paycheck Protection Loan of $16,600 through PNC BANK, NATIONAL ASSOCIATION, which was approved in May, 2020.
Based on standard PPP eligibility rules, Oakland Steel Inc's total 2019 payroll expenses were approximately $79,680 in order to qualify for the PPP loan amount received.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $26,560 per employee1.
Business Information - Oakland Steel Inc in Sterling Heights, MI
6646 Sims Dr
Sterling Heights, MI 48313
Metal Service Centers and Other Metal Merchant Wholesalers (NAICS code 423510)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: MALE OWNED
Veteran Status: NON-VETERANCongressional District: MI-10
Similar Companies near Sterling Heights
In the Sterling Heights area, 3 businesses in the "Metal Service Centers and Other Metal Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 167 employees (compared to this company's 3) and received an average PPP loan of $2,782,652 (compared to this company's $16,600).
Similar Nearby Businesses Who Received PPP Funding:
F H Bourke Associates Inc
Sterling Heights, MI
The Macomb Group, Inc.
Sterling Heights, MI
Industry PPP Comparison Statistics
Nationwide, 2,691 businesses in the "Metal Service Centers and Other Metal Merchant Wholesalers" industry received a total of $697,432,843.00 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 18 employees, 500% higher than Oakland Steel Inc's reported 3 employees, and received an average PPP loan of $259,172, 1461% higher than this company's loan of $16,600.
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. 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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