PPP Loan Data — Progressive Ae, Inc., Grand Rapids, MI
Progressive Ae, Inc. is a corporation located at 1811 4 Mile Rd Ne in Grand Rapids, Michigan that received a Coronavirus-related PPP loan from the SBA of $4,330,600.00 in April, 2020.
$ PPP Loan Information
Progressive Ae, Inc. in Grand Rapids, MI received a Paycheck Protection Loan of $4.33M through INDEPENDENT BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Progressive Ae, Inc.'s total 2019 payroll expenses were approximately $20.79M in order to qualify for the PPP loan amount received.
Based on their reported 221 jobs retained, this equals an estimated average yearly compensation of $94,058 per employee1.
Business Information - Progressive Ae, Inc. in Grand Rapids, MI
1811 4 Mile Rd Ne
Grand Rapids, MI 49525
Architectural Services (NAICS code 541310)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: MI-03
Similar Companies near Grand Rapids
In the Grand Rapids area, 2 businesses in the "Architectural Services" industry received a PPP loan. These local businesses reported an average of 111 employees (compared to this company's 221) and received an average PPP loan of $2,448,600 (compared to this company's $4.33M).
Similar Nearby Businesses Who Received PPP Funding:
Century A & E, Corporation
Grand Rapids, MI
Industry PPP Comparison Statistics
Nationwide, 17,027 businesses in the "Architectural Services" industry received a total of $2,549,800,767.00 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 8 employees, 96% lower than Progressive Ae, Inc.'s reported 221 employees, and received an average PPP loan of $149,750, 97% lower than this company's loan of $4.33M.
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, and is published unmodified, as provided by the SBA.
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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