PPP Loan Data — RND Engineering LLC, Chelsea, MI
RND Engineering LLC is a limited liability company (LLC) located at 375 E North St in Chelsea, Michigan that received a Coronavirus-related PPP loan from the SBA of $47,137.00 in January, 2021.
The company has reported itself as a Black or african american male owned business, and employed at least six people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
RND Engineering LLC in Chelsea, MI received a Paycheck Protection Loan of $47,137 through Advia CU, which was approved in January, 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, RND Engineering LLC's 2019 payroll expenses are estimated to be at least $226,258.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $37,710 per employee1
Reported PPP Proceed Usage:
On the PPP application, RND Engineering LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $47,131
- Utilities: $1
Business Information - RND Engineering LLC in Chelsea, MI
375 E North St
Chelsea, MI 48118
Machine Tool Manufacturing
NAICS code 333517
Business Owner Demographics
Race: Black or African American
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 2,977 businesses in the "Machine Tool Manufacturing" industry received a total of $619M 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 17 employees, 183% higher than RND Engineering LLC's reported 6 employees, and received an average PPP loan of $207,928, 341% higher than this company's loan of $47,137.
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Footnotes & Information
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