PPP Loan Data — Optech LLC, Troy, MI
Entity: Limited Liability Company (LLC)
Industry: Other Similar Organizations (except Business, Professional, Labor, and Political Organizations)
Location: Troy, MITweet This • Search All PPP Data
Optech LLC is a limited liability company (LLC) located at 5440 Corporate Drive Suite 260 in Troy, Michigan that received a Coronavirus-related PPP loan from the SBA of $2,375,912.00 in April, 2020.
The company has reported itself as a White female owned business, and employed at least 180 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:The Huntington National Bank
Optech LLC in Troy, MI received a Paycheck Protection Loan of $2.38M through The Huntington National Bank, 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, Optech LLC's 2019 payroll expenses are estimated to be at least $11.4M.
Based on their reported 180 jobs retained, this equals an estimated average yearly compensation of $63,358 per employee1
Reported PPP Proceed Usage:
On the PPP application, Optech LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,375,912
Business Information - Optech LLC in Troy, MI
5440 Corporate Drive Suite 260
Troy, MI 48098
Other Similar Organizations (except Business, Professional, Labor, and Political Organizations)
NAICS code 813990
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Troy
In the Troy area, 2 businesses in the "Other Similar Organizations (except Business, Professional, Labor, and Political Organizations)" industry received a PPP loan. These local businesses reported an average of 105 employees (compared to this company's 180) and received an average PPP loan of $1,328,506 (compared to this company's $2.38M).
Similar Nearby Businesses Who Received PPP Funding:
Industry PPP Comparison Statistics
Nationwide, 8,934 businesses in the "Other Similar Organizations (except Business, Professional, Labor, and Political Organizations)" industry received a total of $676.03M 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 9 employees, 95% lower than Optech LLC's reported 180 employees, and received an average PPP loan of $75,670, 97% lower than this company's loan of $2.38M.
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Footnotes & Information
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