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PPP Loan Data — Spark Talent Acquisition, Inc, Sterling Heights, MI

SBA PPP loan data, payroll data, and salaries for Spark Talent Acquisition, Inc
MI

Spark Talent Acquisition, Inc

Entity: Corporation

Industry: Executive Search Services

Location: Sterling Heights, MI

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Spark Talent Acquisition, Inc is a corporation located at 38219 Mound Road in Sterling Heights, Michigan that received a Coronavirus-related PPP loan from the SBA of $3,196,300.00 in April, 2020.

The company has reported itself as a White male owned business, and employed at least 224 people during the applicable loan loan period.

$ PPP Loan Information
Loan #2569277205

Loan Size:

$3.2M

Jobs Retained:

224

Loan Approved:

2020-04-16

Loan Status:

Paid in Full or Forgiven

Lender:

PNC Bank, National Association

Spark Talent Acquisition, Inc in Sterling Heights, MI received a Paycheck Protection Loan of $3.2M through PNC Bank, National Association, which was approved in April, 2020.

This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in July, 2021.

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, Spark Talent Acquisition, Inc's 2019 payroll expenses are estimated to be at least $15.34M.

Based on their reported 224 jobs retained, this equals an estimated average yearly compensation of $68,492 per employee1

Reported PPP Proceed Usage:

On the PPP application, Spark Talent Acquisition, Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $3,196,300
Because the loan received by Spark Talent Acquisition, 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 - Spark Talent Acquisition, Inc in Sterling Heights, MI

Spark Talent Acquisition, Inc
38219 Mound Road
Sterling Heights, MI 48310

Business Industry:
Executive Search Services
NAICS code 561312

Business Owner Demographics

Race: White

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age:

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Macomb County, MI — SBA Office 0515 — Congressional District: MI-09

Similar Companies near Sterling Heights

In the Sterling Heights area, 2 businesses in the "Executive Search Services" industry received a PPP loan. These local businesses reported an average of 114 employees (compared to this company's 224) and received an average PPP loan of $1,615,150 (compared to this company's $3.2M).

Similar Nearby Businesses Who Received PPP Funding:

Carboagez LLC
Sterling Heights, MI

$34,000 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 7,001 businesses in the "Executive Search Services" industry received a total of $767.7M 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 10 employees, 96% lower than Spark Talent Acquisition, Inc's reported 224 employees, and received an average PPP loan of $109,655, 97% 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. 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/spark-talent-acquisition-inc-sterling-heights-mi