PPP Loan Data — RJG Technologies Inc, Traverse City, MI
RJG Technologies Inc is a corporation located at 3111 Park Drive in Traverse City, Michigan that received a Coronavirus-related PPP loan from the SBA of $1,830,793.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:The Huntington National Bank
RJG Technologies Inc in Traverse City, MI received a Paycheck Protection Loan of $1.83M 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, RJG Technologies Inc's 2019 payroll expenses are estimated to be at least $8.79M.
Based on their reported 104 jobs retained, this equals an estimated average yearly compensation of $84,498 per employee1
Reported PPP Proceed Usage:
On the PPP application, RJG Technologies Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,830,793
Business Information - RJG Technologies Inc in Traverse City, MI
3111 Park Drive
Traverse City, MI 49686
Industrial Mold Manufacturing
NAICS code 333511
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 1,132 businesses in the "Industrial Mold Manufacturing" industry received a total of $333.26M 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 24 employees, 77% lower than RJG Technologies Inc's reported 104 employees, and received an average PPP loan of $294,400, 84% lower than this company's loan of $1.83M.
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Footnotes & Information
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