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PPP Loan Data — Shaheen Automotive Group, Inc., Lansing, MI

SBA PPP loan data, payroll data, and salaries for Shaheen Automotive Group, Inc.
MI

Shaheen Automotive Group, Inc.

Entity: Corporation

Industry: New Car Dealers

Location: Lansing, MI

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Shaheen Automotive Group, Inc. is a corporation located at 632 American Road in Lansing, Michigan that received a Coronavirus-related PPP loan from the SBA of $4,729,385.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$4.73M

Jobs Retained:

463

Loan Approved:

2020-04-10

Lender:

FIFTH THIRD BANK

Shaheen Automotive Group, Inc. received a Paycheck Protection Loan of $4.73M through FIFTH THIRD BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Shaheen Automotive Group, Inc.'s total 2019 payroll expenses were approximately $22.7M in order to qualify for the PPP loan amount received.

Based on their reported 463 jobs retained, this equals an estimated average yearly compensation of $49,030 per employee1.

Because the loan received by Shaheen Automotive Group, 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 - Shaheen Automotive Group, Inc. in Lansing, MI

Shaheen Automotive Group, Inc.
632 American Road
Lansing, MI 48911

Business Industry

New Car Dealers (NAICS code 441110)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MI-08

Similar Companies near Lansing

In the Lansing area, 8 businesses in the "New Car Dealers" industry received a PPP loan. These local businesses reported an average of 138 employees (compared to this company's 463) and received an average PPP loan of $1,338,602 (compared to this company's $4.73M).

Industry PPP Comparison Statistics

Nationwide, 16,570 businesses in the "New Car Dealers" industry received a total of $10,869,996,969.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 2% of the total PPP funding allocated.

PPP recipients in this industry report an average of 47 employees, 90% lower than Shaheen Automotive Group, Inc.'s reported 463 employees, and received an average PPP loan of $656,005, 86% lower than this company's loan of $4.73M.

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.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. 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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/shaheen-automotive-group-inc-lansing-mi