PPP Loan Data — Oetiker Inc, Marlette, MI
Oetiker Inc is a corporation located at 6317 Euclid Street in Marlette, Michigan that received a Coronavirus-related PPP loan from the SBA of $2,358,602.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bank of America, National Association
Oetiker Inc in Marlette, MI received a Paycheck Protection Loan of $2.36M through Bank of America, National Association, which was approved in April, 2020.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
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, Oetiker Inc's 2019 payroll expenses are estimated to be at least $11.32M.
Based on their reported 132 jobs retained, this equals an estimated average yearly compensation of $85,767 per employee1
Reported PPP Proceed Usage:
On the PPP application, Oetiker Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,358,602
Business Information - Oetiker Inc in Marlette, MI
6317 Euclid Street
Marlette, MI 48453
NAICS code 332510
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 1,100 businesses in the "Hardware Manufacturing" industry received a total of $239.47M 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 20 employees, 85% lower than Oetiker Inc's reported 132 employees, and received an average PPP loan of $217,703, 91% lower than this company's loan of $2.36M.
FederalPay's PPP Information Policy
Footnotes & Information
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