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PPP Loan Data — Seek Careers/Staffing, Inc, Grafton, WI

SBA PPP loan data, payroll data, and salaries for Seek Careers/Staffing, Inc
WI

Seek Careers/Staffing, Inc

Entity: Corporation

Industry: Temporary Help Services

Location: Grafton, WI

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Seek Careers/Staffing, Inc is a corporation located at 1160 Opportunity Dr in Grafton, Wisconsin that received a Coronavirus-related PPP loan from the SBA of $5,000,000.00 in April, 2020.

The company has reported itself as a White male owned business, and employed at least 500 people during the applicable loan loan period.

$ PPP Loan Information Loan #4233907308

Loan Size:

$5M

Jobs Retained:

500

Loan Approved:

2020-04-29

Loan Status:

Ongoing Loan

Lender:

BMO Harris Bank National Association

Seek Careers/Staffing, Inc in Grafton, WI received a Paycheck Protection Loan of $5M through BMO Harris Bank National Association, which was approved in April, 2020.

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.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Seek Careers/Staffing, Inc's 2019 payroll expenses are estimated to be at least $24M.

Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $48,000 per employee1

Reported PPP Proceed Usage:

On the PPP application, Seek Careers/Staffing, Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $5,000,000
Because the loan received by Seek Careers/Staffing, 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 - Seek Careers/Staffing, Inc in Grafton, WI

Seek Careers/Staffing, Inc
1160 Opportunity Dr
Grafton, WI 53024

Business Industry:
Temporary Help Services
NAICS code 561320

Business Owner Demographics

Race: White

Ethnicity: Unreported

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age:

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Ozaukee County, WI — SBA Office 0563 — Congressional District: WI-06

Similar Companies near Grafton

In the Grafton area, 2 businesses in the "Temporary Help Services" industry received a PPP loan. These local businesses reported an average of 267 employees (compared to this company's 500) and received an average PPP loan of $2,644,825 (compared to this company's $5M).

Similar Nearby Businesses Who Received PPP Funding:

Portal, Inc
Grafton, WI

$289,650 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 7,302 businesses in the "Temporary Help Services" industry received a total of $3,525,871,183.00 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 60 employees, 88% lower than Seek Careers/Staffing, Inc's reported 500 employees, and received an average PPP loan of $482,864, 90% lower than this company's loan of $5M.

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.

Search FederalPay's Full PPP Loan Database

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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Source: www.federalpay.org/paycheck-protection-program/seek-careersstaffing-inc-grafton-wi