PPP Loan Data — Pressed Paperboard Technologies LLC, Bingham Farms, MI
Pressed Paperboard Technologies LLC is a subchapter s corporation located at 30400 Telegraph Road, Suite 386 in Bingham Farms, Michigan that received a Coronavirus-related PPP loan from the SBA of $1,607,800.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 163 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:The Huntington National Bank
Pressed Paperboard Technologies LLC in Bingham Farms, MI received a Paycheck Protection Loan of $1.61M through The Huntington National 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 February, 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, Pressed Paperboard Technologies LLC's 2019 payroll expenses are estimated to be at least $7.72M.
Based on their reported 163 jobs retained, this equals an estimated average yearly compensation of $47,346 per employee1
Reported PPP Proceed Usage:
On the PPP application, Pressed Paperboard Technologies LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,607,800
Business Information - Pressed Paperboard Technologies LLC in Bingham Farms, MI
30400 Telegraph Road, Suite 386
Bingham Farms, MI 48025
All Other Converted Paper Product Manufacturing
NAICS code 322299
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 593 businesses in the "All Other Converted Paper Product Manufacturing" industry received a total of $183.01M 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 29 employees, 82% lower than Pressed Paperboard Technologies LLC's reported 163 employees, and received an average PPP loan of $308,611, 81% lower than this company's loan of $1.61M.
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Footnotes & Information
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