PPP Loan Data — Rochester & M-59, Inc, Rochester Hills, MI
Rochester & M-59, Inc is a subchapter s corporation located at 3791 Rochester Road in Rochester Hills, Michigan that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in June, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Eastern Michigan Bank
Rochester & M-59, Inc in Rochester Hills, MI received a Paycheck Protection Loan of $25,000 through Eastern Michigan Bank, which was approved in June, 2020.
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, Rochester & M-59, Inc's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Rochester & M-59, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Rochester & M-59, Inc in Rochester Hills, MI
3791 Rochester Road
Rochester Hills, MI 48307
Beer, Wine, and Liquor Stores
NAICS code 445310
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Rochester Hills
In the Rochester Hills area, 4 businesses in the "Beer, Wine, and Liquor Stores" industry received a PPP loan. These local businesses reported an average of 13 employees (compared to this company's 3) and received an average PPP loan of $66,800 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Irish Beer Works Rochester, Inc
Rochester Hills, MI
Kyle Enterprises, Inc
Industry PPP Comparison Statistics
Nationwide, 19,110 businesses in the "Beer, Wine, and Liquor Stores" industry received a total of $604.2M 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 6 employees, 100% higher than Rochester & M-59, Inc's reported 3 employees, and received an average PPP loan of $31,617, 26% higher than this company's loan of $25,000.
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Footnotes & Information
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