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PPP Loan Data — Optimal Inc,
Plymouth, MI
Optimal Inc
Entity: Corporation
Industry: Engineering Services
Location: Plymouth, MI
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Optimal Inc is a corporation located at 47802 W Anchor Ct in Plymouth, Michigan that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in March, 2021.
The company has reported itself as an Asian male owned business, and employed at least 182 people during the applicable loan loan period.
$
PPP Loan Information
Loan #3107058608
Loan Size:
Jobs Retained:
182Loan Approved:
2021-03-16Loan Status:
Paid in Full or ForgivenLender:
JPMorgan Chase Bank, National AssociationOptimal Inc in Plymouth, MI received a Paycheck Protection Loan of $2M through JPMorgan Chase Bank, National Association, which was approved in March, 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 September, 2022.
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 MoreUnderstanding 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 MoreBased 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, Optimal Inc's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 182 jobs retained, this equals an estimated average yearly compensation of $52,747 per employee1
Reported PPP Proceed Usage:
On the PPP application, Optimal Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,000,000
Business Information - Optimal Inc in Plymouth, MI
47802 W Anchor Ct
Plymouth, MI 48170
Business Industry:
Engineering Services
NAICS code 541330
Business Owner Demographics
Race: Asian
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
Similar Companies near Plymouth
In the Plymouth area, 23 businesses in the "Engineering Services" industry received a PPP loan. These local businesses reported an average of 45 employees (compared to this company's 182) and received an average PPP loan of $694,964 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Variation Reduction Solutions, Inc
Plymouth, MI
Pyxis Technologies LLC
Plymouth, MI
The Bradford Company, LLC
Plymouth, MI
Borland Holdings Inc
Plymouth, MI
Conns Connections LLC
Plymouth, MI
Dare Auto, Inc
Plymouth, MI
Marchesano & Associates Inc
Plymouth, MI
Virtual Engineering Inc
Plymouth, MI
Jekabson And Associates, PC
Plymouth, MI
Industry PPP Comparison Statistics
Nationwide, 46,564 businesses in the "Engineering Services" industry received a total of $9.17B 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 13 employees, 93% lower than Optimal Inc's reported 182 employees, and received an average PPP loan of $196,985, 90% lower than this company's loan of $2M.
Optimal, Inc
Entity: Corporation
Industry: Engineering Services
Location: Plymouth, MI
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•
Search All PPP Data
Optimal, Inc is a corporation located at 47802 W Anchor Ct in Plymouth, Michigan that received a Coronavirus-related PPP loan from the SBA of $3,633,920.00 in May, 2020.
The company has reported itself as an Asian male owned business, and employed at least 198 people during the applicable loan loan period.
$
PPP Loan Information
Loan #2045347702
Loan Size:
Jobs Retained:
198Loan Approved:
2020-05-01Loan Status:
Paid in Full or ForgivenLender:
JPMorgan Chase Bank, National AssociationOptimal, Inc in Plymouth, MI received a Paycheck Protection Loan of $3.63M through JPMorgan Chase Bank, National Association, which was approved in May, 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 July, 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 MoreUnderstanding 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 MoreBased 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, Optimal, Inc's 2019 payroll expenses are estimated to be at least $17.44M.
Based on their reported 198 jobs retained, this equals an estimated average yearly compensation of $88,095 per employee1
Reported PPP Proceed Usage:
On the PPP application, Optimal, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $3,501,824
- Health Care: $132,096
Business Information - Optimal, Inc in Plymouth, MI
47802 W Anchor Ct
Plymouth, MI 48170
Business Industry:
Engineering Services
NAICS code 541330
Business Owner Demographics
Race: Asian
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
Similar Companies near Plymouth
In the Plymouth area, 23 businesses in the "Engineering Services" industry received a PPP loan. These local businesses reported an average of 45 employees (compared to this company's 198) and received an average PPP loan of $694,964 (compared to this company's $3.63M).
Similar Nearby Businesses Who Received PPP Funding:
Variation Reduction Solutions, Inc
Plymouth, MI
Pyxis Technologies LLC
Plymouth, MI
The Bradford Company, LLC
Plymouth, MI
Borland Holdings Inc
Plymouth, MI
Conns Connections LLC
Plymouth, MI
Dare Auto, Inc
Plymouth, MI
Marchesano & Associates Inc
Plymouth, MI
Virtual Engineering Inc
Plymouth, MI
Jekabson And Associates, PC
Plymouth, MI
Industry PPP Comparison Statistics
Nationwide, 46,564 businesses in the "Engineering Services" industry received a total of $9.17B 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 13 employees, 93% lower than Optimal, Inc's reported 198 employees, and received an average PPP loan of $196,985, 95% lower than this company's loan of $3.63M.
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. 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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