PPP Loan Data — Pickleman's Petroleum, Inc, Newberry, MI
Pickleman's Petroleum, Inc is a corporation located at 14077 State Highway M28 in Newberry, Michigan that received a Coronavirus-related PPP loan from the SBA of $46,800.00 in April, 2020.
The company has reported itself as a White female owned business, and employed at least fifteen people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Pickleman's Petroleum, Inc in Newberry, MI received a Paycheck Protection Loan of $46,800 through mBank, which was approved in April, 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 March, 2021.
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, Pickleman's Petroleum, Inc's 2019 payroll expenses are estimated to be at least $224,640.
Based on their reported 15 jobs retained, this equals an estimated average yearly compensation of $14,976 per employee1
Reported PPP Proceed Usage:
On the PPP application, Pickleman's Petroleum, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,800
Business Information - Pickleman's Petroleum, Inc in Newberry, MI
14077 State Highway M28
Newberry, MI 49868
Other Gasoline Stations
NAICS code 447190
Business Owner Demographics
Gender: Female Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 6,490 businesses in the "Other Gasoline Stations" industry received a total of $343.18M 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, 40% lower than Pickleman's Petroleum, Inc's reported 15 employees, and received an average PPP loan of $52,878, 13% higher than this company's loan of $46,800.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!