PPP Loan Data — Otterbase, Inc., Grand Rapids, MI
Otterbase, Inc. is a subchapter s corporation located at 555 3 Mile Rd Nw in Grand Rapids, Michigan that received a Coronavirus-related PPP loan from the SBA of $4,012,084.00 in April, 2020.
$ PPP Loan Information
Lender:JPMORGAN CHASE BANK, NATIONAL ASSOCIATION
Otterbase, Inc. received a Paycheck Protection Loan of $4.01M through JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Otterbase, Inc.'s total 2019 payroll expenses were approximately $19.26M in order to qualify for the PPP loan amount received.
Based on their reported 289 jobs retained, this equals an estimated average yearly compensation of $66,637 per employee1.
Business Information - Otterbase, Inc. in Grand Rapids, MI
555 3 Mile Rd Nw
Grand Rapids, MI 49544
Employment Placement Agencies (NAICS code 561311)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: MI-02
Industry PPP Comparison Statistics
Nationwide, 7,294 businesses in the "Employment Placement Agencies" industry received a total of $2,648,453,106.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 38 employees, 87% lower than Otterbase, Inc.'s reported 289 employees, and received an average PPP loan of $363,100, 91% lower than this company's loan of $4.01M.
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Footnotes & Information
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