PPP Loan Data — Prestolite Electric Incorporated, Novi, MI
Prestolite Electric Incorporated
Location: Novi, MITweet This • Search All PPP Data
Prestolite Electric Incorporated is a corporation located at 30120 Hudson Drive in Novi, Michigan that received a Coronavirus-related PPP loan from the SBA of $2,939,857.00 in April, 2020.
$ PPP Loan Information
Jobs Retained:0 Unreported
Lender:KEYBANK NATIONAL ASSOCIATION
Prestolite Electric Incorporated in Novi, MI received a Paycheck Protection Loan of $2.94M through KEYBANK NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Prestolite Electric Incorporated's total 2019 payroll expenses were approximately $14.11M in order to qualify for the PPP loan amount received.
Unlike most businesses, Prestolite Electric Incorporated's PPP data does not report the number of jobs retained by their receipt of the Paycheck Protection Loan (some banks did not release this infomation from their loan applications). Without this data, per-employee payrolls for this company cannot be estimated.
Business Information - Prestolite Electric Incorporated in Novi, MI
30120 Hudson Drive
Novi, MI 48377
Motor Vehicle Electrical and Electronic Equipment Manufacturing (NAICS code 336320)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: MI-11
Industry PPP Comparison Statistics
Nationwide, 276 businesses in the "Motor Vehicle Electrical and Electronic Equipment Manufacturing" industry received a total of $96,271,285.00 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 27 employees, and received an average PPP loan of $348,809, 88% lower than this company's loan of $2.94M.
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Footnotes & Information
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