PPP Loan Data — Praklet's Piers And Lifts, Dowagiac, MI
Praklet's Piers And Lifts is a subchapter s corporation located at 50557 M-152 in Dowagiac, Michigan that received a Coronavirus-related PPP loan from the SBA of $46,306.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:The Huntington National Bank
Praklet's Piers And Lifts in Dowagiac, MI received a Paycheck Protection Loan of $46,306 through The Huntington National Bank, 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 June, 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, Praklet's Piers And Lifts' 2019 payroll expenses are estimated to be at least $222,269.
Based on their reported 13 jobs retained, this equals an estimated average yearly compensation of $17,098 per employee1
Reported PPP Proceed Usage:
On the PPP application, Praklet's Piers And Lifts reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,306
Business Information - Praklet's Piers And Lifts in Dowagiac, MI
Dowagiac, MI 49047
Interior Design Services
NAICS code 541410
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Dowagiac
In the Dowagiac area, 4 businesses in the "Interior Design Services" industry received a PPP loan. These local businesses reported an average of 6 employees (compared to this company's 13) and received an average PPP loan of $36,309 (compared to this company's $46,306).
Similar Nearby Businesses Who Received PPP Funding:
Fowler Interiors, Inc
Industry PPP Comparison Statistics
Nationwide, 29,847 businesses in the "Interior Design Services" industry received a total of $1.03B 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 3 employees, 77% lower than Praklet's Piers And Lifts' reported 13 employees, and received an average PPP loan of $34,371, 26% lower than this company's loan of $46,306.
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Footnotes & Information
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