PPP Loan Data — Ponder Industrial Inc, Bay City, MI
Ponder Industrial Inc
Entity: Subchapter S Corporation
Location: Bay City, MITweet This • Search All PPP Data
Ponder Industrial Inc is a subchapter s corporation located at 3780 N Euclid Ave in Bay City, Michigan that received a Coronavirus-related PPP loan from the SBA of $46,795.00 in January, 2021.
The company has reported itself as a male owned business, and employed at least six people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Ponder Industrial Inc in Bay City, MI received a Paycheck Protection Loan of $46,795 through Independent Bank, which was approved in January, 2021.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
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, Ponder Industrial Inc's 2019 payroll expenses are estimated to be at least $224,616.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $37,436 per employee1
Reported PPP Proceed Usage:
On the PPP application, Ponder Industrial Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,793
- Utilities: $1
Business Information - Ponder Industrial Inc in Bay City, MI
3780 N Euclid Ave
Bay City, MI 48706
All Other Miscellaneous General Purpose Machinery Manufacturing
NAICS code 333999
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Bay City
In the Bay City area, 2 businesses in the "All Other Miscellaneous General Purpose Machinery Manufacturing" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 6) and received an average PPP loan of $30,168 (compared to this company's $46,795).
Similar Nearby Businesses Who Received PPP Funding:
Bay City, MI
Industry PPP Comparison Statistics
Nationwide, 3,242 businesses in the "All Other Miscellaneous General Purpose Machinery Manufacturing" industry received a total of $641.64M 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 17 employees, 183% higher than Ponder Industrial Inc's reported 6 employees, and received an average PPP loan of $197,915, 323% higher than this company's loan of $46,795.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!