PPP Loan Data — Star Cutter Co., Farmington Hills, MI
Star Cutter Co.
Location: Farmington Hills, MITweet This • Search All PPP Data
Star Cutter Co. is a corporation located at 23461 Industrial Park Drive in Farmington Hills, Michigan that received a Coronavirus-related PPP loan from the SBA of $4,089,200.00 in April, 2020.
$ PPP Loan Information
Lender:JPMORGAN CHASE BANK, NATIONAL ASSOCIATION
Star Cutter Co. received a Paycheck Protection Loan of $4.09M through JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Star Cutter Co.'s total 2019 payroll expenses were approximately $19.63M in order to qualify for the PPP loan amount received.
Based on their reported 317 jobs retained, this equals an estimated average yearly compensation of $61,918 per employee1.
Business Information - Star Cutter Co. in Farmington Hills, MI
23461 Industrial Park Drive
Farmington Hills, MI 48335
Cutting Tool and Machine Tool Accessory Manufacturing (NAICS code 333515)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: MI-14
Similar Companies near Farmington Hills
In the Farmington Hills area, 2 businesses in the "Cutting Tool and Machine Tool Accessory Manufacturing" industry received a PPP loan. These local businesses reported an average of 163 employees (compared to this company's 317) and received an average PPP loan of $2,093,100 (compared to this company's $4.09M).
Similar Nearby Businesses Who Received PPP Funding:
Atlas Thread Gage Inc
Farmington Hills, MI
Industry PPP Comparison Statistics
Nationwide, 987 businesses in the "Cutting Tool and Machine Tool Accessory Manufacturing" industry received a total of $240,488,771.00 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, 95% lower than Star Cutter Co.'s reported 317 employees, and received an average PPP loan of $243,656, 94% lower than this company's loan of $4.09M.
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