Corporation OMT-Veyhl USA Corporation in Holland, MI - SBA PPP Loan Data (Paycheck Protection Program)
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PPP Loan Data — OMT-Veyhl USA Corporation, Holland, MI

SBA PPP loan data, payroll data, and salaries for OMT-Veyhl USA Corporation
MI

OMT-Veyhl USA Corporation

Entity: Corporation

Industry: Institutional Furniture Manufacturing

Location: Holland, MI

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OMT-Veyhl USA Corporation is a corporation located at 11511 James St in Holland, Michigan that received a Coronavirus-related PPP loan from the SBA of $4,100,000.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$4.1M

Jobs Retained:

0 Unreported

Loan Approved:

2020-04-06

Lender:

MACATAWA BANK

OMT-Veyhl USA Corporation in Holland, MI received a Paycheck Protection Loan of $4.1M through MACATAWA BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, OMT-Veyhl USA Corporation's total 2019 payroll expenses were approximately $19.68M in order to qualify for the PPP loan amount received.

Unlike most businesses, OMT-Veyhl USA Corporation's PPP data does not report the number of jobs retained by their receipt of the Paycheck Protection Loan (some banks did not release this infomation from their loan applications). Without this data, per-employee payrolls for this company cannot be estimated.

Because the loan received by OMT-Veyhl USA Corporation 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 - OMT-Veyhl USA Corporation in Holland, MI

OMT-Veyhl USA Corporation
11511 James St
Holland, MI 49424

Business Industry

Institutional Furniture Manufacturing (NAICS code 337127)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MI-02

Similar Companies near Holland

In the Holland area, 4 businesses in the "Institutional Furniture Manufacturing" industry received a PPP loan. These local businesses reported an average of 69 employees (compared to this company's 0) and received an average PPP loan of $2,028,007 (compared to this company's $4.1M).

Industry PPP Comparison Statistics

Nationwide, 644 businesses in the "Institutional Furniture Manufacturing" industry received a total of $209,697,149.00 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 26 employees, and received an average PPP loan of $325,617, 92% lower than this company's loan of $4.1M.

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.

Search FederalPay's Full PPP Loan Database

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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Source: www.federalpay.org/paycheck-protection-program/omt-veyhl-usa-corporation-holland-mi