PPP Loan Data — Sportel Greenhouses, LLC, Galesburg, MI
Sportel Greenhouses, LLC is a limited liability company (LLC) located at 8937 Krum Ave in Galesburg, Michigan that received a Coronavirus-related PPP loan from the SBA of $1,804,250.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:First National Bank of Michigan
Sportel Greenhouses, LLC in Galesburg, MI received a Paycheck Protection Loan of $1.8M through First National Bank of Michigan, which was approved in April, 2020.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
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, Sportel Greenhouses, LLC's 2019 payroll expenses are estimated to be at least $8.66M.
Based on their reported 200 jobs retained, this equals an estimated average yearly compensation of $43,302 per employee1
Reported PPP Proceed Usage:
On the PPP application, Sportel Greenhouses, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Rent: $1,804,250
Business Information - Sportel Greenhouses, LLC in Galesburg, MI
8937 Krum Ave
Galesburg, MI 49053
NAICS code 111422
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 1,650 businesses in the "Floriculture Production" industry received a total of $189.51M 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 17 employees, 92% lower than Sportel Greenhouses, LLC's reported 200 employees, and received an average PPP loan of $114,855, 94% lower than this company's loan of $1.8M.
FederalPay's PPP Information Policy
Footnotes & Information
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