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PPP Loan Data — Progressive Ae, Inc., Grand Rapids, MI

SBA PPP loan data, payroll data, and salaries for Progressive Ae, Inc.
MI

Progressive Ae, Inc.

Entity: Corporation

Industry: Architectural Services

Location: Grand Rapids, MI

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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

Loan Size:

$4.33M

Jobs Retained:

221

Loan Approved:

2020-04-11

Lender:

INDEPENDENT BANK

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.

Because the loan received by Progressive Ae, Inc. is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Progressive Ae, Inc. in Grand Rapids, MI

Progressive Ae, Inc.
1811 4 Mile Rd Ne
Grand Rapids, MI 49525

Business Industry

Architectural Services (NAICS code 541310)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional 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

$566,600 PPP Loan

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.

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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/progressive-ae-inc-grand-rapids-mi