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PPP Loan Data — Sheridan Books Inc, Chelsea, MI

SBA PPP loan data, payroll data, and salaries for Sheridan Books Inc
MI

Sheridan Books Inc

Entity: Subchapter S Corporation

Industry: Books Printing

Location: Chelsea, MI

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Sheridan Books Inc is a subchapter s corporation located at 613 E Industrial Drive in Chelsea, Michigan that received a Coronavirus-related PPP loan from the SBA of $3,204,643.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.2M

Jobs Retained:

381

Loan Approved:

2020-04-27

Lender:

AMERICAN NATIONAL BANK OF MINNESOTA

Sheridan Books Inc received a Paycheck Protection Loan of $3.2M through AMERICAN NATIONAL BANK OF MINNESOTA, which was approved in April, 2020.

Based on standard PPP eligibility rules, Sheridan Books Inc's total 2019 payroll expenses were approximately $15.38M in order to qualify for the PPP loan amount received.

Based on their reported 381 jobs retained, this equals an estimated average yearly compensation of $40,373 per employee1.

Because the loan received by Sheridan Books 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 - Sheridan Books Inc in Chelsea, MI

Sheridan Books Inc
613 E Industrial Drive
Chelsea, MI 48118

Business Industry

Books Printing (NAICS code 323117)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MI-07

Industry PPP Comparison Statistics

Nationwide, 370 businesses in the "Books Printing" industry received a total of $68,861,942.00 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 17 employees, 96% lower than Sheridan Books Inc's reported 381 employees, and received an average PPP loan of $186,113, 94% lower than this company's loan of $3.2M.

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.

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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/sheridan-books-inc-chelsea-mi