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PPP Loan Data — Oakley Industries Sub Assembly. Division Inc, Flint, MI

ALERT: There are 2 PPP loans for a total of $4.52M in our database for businesses with the name "Oakley Industries Sub Assembly. Division Inc" in Flint, MI. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Oakley Industries Sub Assembly. Division Inc
MI

Oakley Industries Sub Assembly. Division Inc

Entity: Subchapter S Corporation

Industry: Other Motor Vehicle Parts Manufacturing

Location: Flint, MI

Search All PPP Data

Oakley Industries Sub Assembly. Division Inc is a subchapter s corporation located at 4333 Matthew in Flint, Michigan that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in February, 2021.

The company has reported itself as a White male owned business, and employed at least 152 people during the applicable loan loan period.

$ PPP Loan Information
Loan #8181178403

Loan Size:

$2M

Jobs Retained:

152

Loan Approved:

2021-02-13

Loan Status:

Paid in Full or Forgiven

Lender:

The Huntington National Bank

Oakley Industries Sub Assembly. Division Inc in Flint, MI received a Paycheck Protection Loan of $2M through The Huntington National Bank, which was approved in February, 2021.

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 August, 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 More
Understanding 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 More

Based 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, Oakley Industries Sub Assembly. Division Inc's 2019 payroll expenses are estimated to be at least $9.6M.

Based on their reported 152 jobs retained, this equals an estimated average yearly compensation of $63,158 per employee1

Reported PPP Proceed Usage:

On the PPP application, Oakley Industries Sub Assembly. Division Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,999,997
  • Utilities: $1
Because the loan received by Oakley Industries Sub Assembly. Division Inc 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 - Oakley Industries Sub Assembly. Division Inc in Flint, MI

Oakley Industries Sub Assembly. Division Inc
4333 Matthew
Flint, MI 48507

Business Industry:
Other Motor Vehicle Parts Manufacturing
NAICS code 336390

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

Genesee County, MI — SBA Office 0515 — Congressional District: MI-05

Similar Companies near Flint

In the Flint area, 3 businesses in the "Other Motor Vehicle Parts Manufacturing" industry received a PPP loan. These local businesses reported an average of 72 employees (compared to this company's 152) and received an average PPP loan of $869,787 (compared to this company's $2M).

Similar Nearby Businesses Who Received PPP Funding:

US Speedo 5 Inc
Flint, MI

$288,977 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 1,500 businesses in the "Other Motor Vehicle Parts Manufacturing" industry received a total of $535.84M 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 33 employees, 78% lower than Oakley Industries Sub Assembly. Division Inc's reported 152 employees, and received an average PPP loan of $357,226, 82% lower than this company's loan of $2M.

SBA PPP loan data, payroll data, and salaries for Oakley Industries Sub Assembly Division Inc
MI

Oakley Industries Sub Assembly Division Inc

Entity: Subchapter S Corporation

Industry: Automotive Parts and Accessories Stores

Location: Flint, MI

Search All PPP Data

Oakley Industries Sub Assembly Division Inc is a subchapter s corporation located at 4333 Matthew Drive in Flint, Michigan that received a Coronavirus-related PPP loan from the SBA of $2,524,057.00 in April, 2020.

The company has reported itself as a White male owned business, and employed at least 208 people during the applicable loan loan period.

$ PPP Loan Information
Loan #1448547104

Loan Size:

$2.52M

Jobs Retained:

208

Loan Approved:

2020-04-10

Loan Status:

Paid in Full or Forgiven

Lender:

The Huntington National Bank

Oakley Industries Sub Assembly Division Inc in Flint, MI received a Paycheck Protection Loan of $2.52M 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 August, 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 More
Understanding 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 More

Based 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, Oakley Industries Sub Assembly Division Inc's 2019 payroll expenses are estimated to be at least $12.12M.

Based on their reported 208 jobs retained, this equals an estimated average yearly compensation of $58,247 per employee1

Reported PPP Proceed Usage:

On the PPP application, Oakley Industries Sub Assembly Division Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $2,524,057
Because the loan received by Oakley Industries Sub Assembly Division Inc 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 - Oakley Industries Sub Assembly Division Inc in Flint, MI

Oakley Industries Sub Assembly Division Inc
4333 Matthew Drive
Flint, MI 48507

Business Industry:
Automotive Parts and Accessories Stores
NAICS code 441310

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

Genesee County, MI — SBA Office 0515 — Congressional District: MI-05

Similar Companies near Flint

In the Flint area, 10 businesses in the "Automotive Parts and Accessories Stores" industry received a PPP loan. These local businesses reported an average of 35 employees (compared to this company's 208) and received an average PPP loan of $368,510 (compared to this company's $2.52M).

Industry PPP Comparison Statistics

Nationwide, 17,766 businesses in the "Automotive Parts and Accessories Stores" industry received a total of $1.19B 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 8 employees, 96% lower than Oakley Industries Sub Assembly Division Inc's reported 208 employees, and received an average PPP loan of $66,985, 97% lower than this company's loan of $2.52M.

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. 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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Source: www.federalpay.org/paycheck-protection-program/oakley-industries-sub-assembly-division-inc-flint-mi