PPP Loan Data — Raven Lynch, Southfield, MI
Raven Lynch is an independent contractor located in Southfield, Michigan that received a Coronavirus-related PPP loan from the SBA of $19,375.00 in April, 2021.
The company has reported itself as a female owned business, and employed at least one person during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Prestamos CDFI, LLC
Raven Lynch in Southfield, MI received a Paycheck Protection Loan of $19,375 through Prestamos CDFI, LLC, which was approved in April, 2021.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
Reported PPP Proceed Usage:
On the PPP application, Raven Lynch reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $19,372
- Utilities: $1
Business Information - Raven Lynch in Southfield, MI
* Full address is redacted to protect the privacy of individuals.
NAICS code 722511
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Businesses Using Same Address:
There are 8 other businesses that received a PPP loan registered to the same address as Raven Lynch.
General Freight Trucking, Local
The Ellis Group Inc
Plumbing, Heating, and Air-Conditioning Contractors
Independent Artists, Writers, and Performers
Turnkey Consulting Co
All Other Miscellaneous Schools and Instruction
Home Health Care Services
General Freight Trucking, Long-Distance, Truckload
MKP Enterprises Inc
Other Direct Selling Establishments
Similar Companies near Southfield
In the Southfield area, 51 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 27 employees (compared to this company's 1) and received an average PPP loan of $71,175 (compared to this company's $19,375).
Similar Nearby Businesses Who Received PPP Funding:
Hands On Detroit Kid City LLC
Brundidge Management Corporation
Lathrup Village, MI
Flamingo Wok Express LLC
Panos Xvi Foods Inc
Bangkok Express Cafe
Poke Poke Evergreen LLC
Akreya Enterprise, Inc DBA Arkins Sweet BBQ Pit
Industry PPP Comparison Statistics
Nationwide, 326,447 businesses in the "Full-Service Restaurants" industry received a total of $42.51B in PPP loans. These businesses account for 3% of total PPP applications submitted, and received 5% of the total PPP funding allocated.
PPP recipients in this industry report an average of 22 employees, 2100% higher than Raven Lynch's reported 1 employees, and received an average PPP loan of $130,221, 572% higher than this company's loan of $19,375.
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.
Footnotes & Information
1. Estimations for informational purposes only. 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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