PPP Loan Data — Portland Building Company, Inc, Honor, MI
Portland Building Company, Inc
Location: Honor, MITweet This • Search All PPP Data
Portland Building Company, Inc is a corporation located at 10715 S Main St in Honor, Michigan that received a Coronavirus-related PPP loan from the SBA of $25,417.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Portland Building Company, Inc in Honor, MI received a Paycheck Protection Loan of $25,417 through Honor Bank, 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 January, 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, Portland Building Company, Inc's 2019 payroll expenses are estimated to be at least $122,002.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $24,400 per employee1
Reported PPP Proceed Usage:
On the PPP application, Portland Building Company, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $22,875
- Utilities: $2,542
Business Information - Portland Building Company, Inc in Honor, MI
10715 S Main St
Honor, MI 49640
New Single-Family Housing Construction (except For-Sale Builders)
NAICS code 236115
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Honor
In the Honor area, 4 businesses in the "New Single-Family Housing Construction (except For-Sale Builders)" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 5) and received an average PPP loan of $25,252 (compared to this company's $25,417).
Similar Nearby Businesses Who Received PPP Funding:
David G Grubaugh
Portland Building Co. Inc
Industry PPP Comparison Statistics
Nationwide, 127,156 businesses in the "New Single-Family Housing Construction (except For-Sale Builders)" industry received a total of $5.75B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 5 employees, the same amount reported by Portland Building Company, Inc and received an average PPP loan of $45,182, 78% higher than this company's loan of $25,417.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!