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PPP Loan Data — Precision Masters Inc, Rochester Hills, MI

SBA PPP loan data, payroll data, and salaries for Precision Masters Inc
MI

Precision Masters Inc

Entity: Corporation

Industry: Motor Vehicle Metal Stamping

Location: Rochester Hills, MI

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Precision Masters Inc is a corporation located at 1985 Northfield Dr in Rochester Hills, Michigan that received a Coronavirus-related PPP loan from the SBA of $859,100.00 in April, 2020.

The company has reported itself as a White male owned business, and employed at least 71 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$859,100

Jobs Retained:

71

Loan Approved:

2020-04-07

Lender:

FLAGSTAR BANK, FSB

Precision Masters Inc received a Paycheck Protection Loan of $859,100 through FLAGSTAR BANK, FSB, which was approved in April, 2020.

Based on standard PPP eligibility rules, Precision Masters Inc's total 2019 payroll expenses were approximately $4.12M in order to qualify for the PPP loan amount received.

Based on their reported 71 jobs retained, this equals an estimated average yearly compensation of $58,080 per employee1.

Business Information - Precision Masters Inc in Rochester Hills, MI

Precision Masters Inc
1985 Northfield Dr
Rochester Hills, MI 48309

Business Industry

Motor Vehicle Metal Stamping (NAICS code 336370)

Business Owner Demographics

Race / Ethnicity: WHITE

Gender: MALE OWNED

Veteran Status: NON-VETERAN

Congressional District: MI-08

Similar Companies near Rochester Hills

In the Rochester Hills area, 2 businesses in the "Motor Vehicle Metal Stamping" industry received a PPP loan. These local businesses reported an average of 286 employees (compared to this company's 71) and received an average PPP loan of $3,984,400 (compared to this company's $859,100).

Similar Nearby Businesses Who Received PPP Funding:

MPI Engineered Technologies LLC
Rochester Hills, MI

$7.11M PPP Loan

Industry PPP Comparison Statistics

Nationwide, 197 businesses in the "Motor Vehicle Metal Stamping" industry received a total of $211,847,677.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 76 employees, 7% higher than Precision Masters Inc's reported 71 employees, and received an average PPP loan of $1.08M, 25% higher than this company's loan of $859,100.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.

All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

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Footnotes & Information

1. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.


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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/precision-masters-inc-rochester-hills-mi