PPP Loan Data — Starfish Family Services, Inc, Inkster, MI
Starfish Family Services, Inc
Entity: Sole Proprietorship
Location: Inkster, MITweet This • Search All PPP Data
Starfish Family Services, Inc is a sole proprietorship located at 30000 Hiveley in Inkster, Michigan that received a Coronavirus-related PPP loan from the SBA of $4,587,900.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:PNC Bank, National Association
Starfish Family Services, Inc in Inkster, MI received a Paycheck Protection Loan of $4.59M 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
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, Starfish Family Services, Inc's 2019 payroll expenses are estimated to be at least $22.02M.
Based on their reported 470 jobs retained, this equals an estimated average yearly compensation of $46,855 per employee1
Reported PPP Proceed Usage:
On the PPP application, Starfish Family Services, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $4,587,900
Business Information - Starfish Family Services, Inc in Inkster, MI
Inkster, MI 48141
Outpatient Mental Health and Substance Abuse Centers
NAICS code 621420
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: Y
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 10,785 businesses in the "Outpatient Mental Health and Substance Abuse Centers" industry received a total of $1.82B 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 19 employees, 96% lower than Starfish Family Services, Inc's reported 470 employees, and received an average PPP loan of $168,728, 96% lower than this company's loan of $4.59M.
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Footnotes & Information
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