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PPP Loan Data — Shuert Industries, Inc., Sterling Heights, MI

SBA PPP loan data, payroll data, and salaries for Shuert Industries, Inc.
MI

Shuert Industries, Inc.

Entity: Corporation

Industry: All Other Plastics Product Manufacturing

Location: Sterling Heights, MI

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Shuert Industries, Inc. is a corporation located at 6600 Dobry Dr in Sterling Heights, Michigan that received a Coronavirus-related PPP loan from the SBA of $2,596,300.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.6M

Jobs Retained:

198

Loan Approved:

2020-04-10

Lender:

COMERICA BANK

Shuert Industries, Inc. in Sterling Heights, MI received a Paycheck Protection Loan of $2.6M through COMERICA BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Shuert Industries, Inc.'s total 2019 payroll expenses were approximately $12.46M in order to qualify for the PPP loan amount received.

Based on their reported 198 jobs retained, this equals an estimated average yearly compensation of $62,941 per employee1.

Because the loan received by Shuert Industries, 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 - Shuert Industries, Inc. in Sterling Heights, MI

Shuert Industries, Inc.
6600 Dobry Dr
Sterling Heights, MI 48314

Business Industry

All Other Plastics Product Manufacturing (NAICS code 326199)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MI-10

Similar Companies near Sterling Heights

In the Sterling Heights area, 12 businesses in the "All Other Plastics Product Manufacturing" industry received a PPP loan. These local businesses reported an average of 44 employees (compared to this company's 198) and received an average PPP loan of $484,696 (compared to this company's $2.6M).

Industry PPP Comparison Statistics

Nationwide, 3,247 businesses in the "All Other Plastics Product Manufacturing" industry received a total of $1,252,980,223.00 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 33 employees, 83% lower than Shuert Industries, Inc.'s reported 198 employees, and received an average PPP loan of $385,889, 85% lower than this company's loan of $2.6M.

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, 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/shuert-industries-inc-sterling-heights-mi