PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — STS Transportation LLC, Grand Rapids, MI

ALERT: There are 2 PPP loans for a total of $668,600 in our database for businesses with the name "STS Transportation LLC" in Grand Rapids, MI. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for STS Transportation LLC
MI

STS Transportation LLC

Entity: Partnership

Industry: General Freight Trucking, Long-Distance, Truckload

Location: Grand Rapids, MI

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STS Transportation LLC is a partnership located at 5635 Clay Ave Sw in Grand Rapids, Michigan that received a Coronavirus-related PPP loan from the SBA of $354,200.00 in January, 2021.

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

$ PPP Loan Information
Loan #3036678303

Loan Size:

$354,200

Jobs Retained:

15

Loan Approved:

2021-01-21

Loan Status:

Ongoing Loan

Lender:

Macatawa Bank
Likely Employment Reduction3

STS Transportation LLC in Grand Rapids, MI received a Paycheck Protection Loan of $354,200 through Macatawa Bank, which was approved in January, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 15 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.

The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 17. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.

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, STS Transportation LLC's 2019 payroll expenses are estimated to be at least $1.7M (not accounting for salary amounts > $100k).

Because the 15 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.

Reported PPP Proceed Usage:

On the PPP application, STS Transportation LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $354,198
  • Utilities: $1

Business Information - STS Transportation LLC in Grand Rapids, MI

STS Transportation LLC
5635 Clay Ave Sw
Grand Rapids, MI 49548

Business Industry:
General Freight Trucking, Long-Distance, Truckload
NAICS code 484121

Business Owner Demographics

Race: Unreported

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: N

Rural / Urban: Urban

Kent County, MI — SBA Office 0515 — Congressional District: MI-02

Similar Companies near Grand Rapids

In the Grand Rapids area, 47 businesses in the "General Freight Trucking, Long-Distance, Truckload" industry received a PPP loan. These local businesses reported an average of 26 employees (compared to this company's 15) and received an average PPP loan of $330,997 (compared to this company's $354,200).

Industry PPP Comparison Statistics

Nationwide, 116,089 businesses in the "General Freight Trucking, Long-Distance, Truckload" industry received a total of $4.64B 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 3 employees, 80% lower than STS Transportation LLC's reported 15 employees, and received an average PPP loan of $39,939, 89% lower than this company's loan of $354,200.

SBA PPP loan data, payroll data, and salaries for STS Transportation, LLC
MI

STS Transportation, LLC

Entity: Partnership

Industry: General Freight Trucking, Local

Location: Grand Rapids, MI

Search All PPP Data

STS Transportation, LLC is a partnership located at 5636 Clay Ave in Grand Rapids, Michigan that received a Coronavirus-related PPP loan from the SBA of $314,400.00 in April, 2020.

The company has reported itself as a male owned business, and employed at least 32 people during the applicable loan loan period.

$ PPP Loan Information
Loan #5762097009

Loan Size:

$314,400

Jobs Retained:

32

Loan Approved:

2020-04-06

Loan Status:

Paid in Full or Forgiven

Lender:

Macatawa Bank

STS Transportation, LLC in Grand Rapids, MI received a Paycheck Protection Loan of $314,400 through Macatawa Bank, 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 January, 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, STS Transportation, LLC's 2019 payroll expenses are estimated to be at least $1.51M.

Based on their reported 32 jobs retained, this equals an estimated average yearly compensation of $47,160 per employee1

Reported PPP Proceed Usage:

On the PPP application, STS Transportation, LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $314,400

Business Information - STS Transportation, LLC in Grand Rapids, MI

STS Transportation, LLC
5636 Clay Ave
Grand Rapids, MI 49548

Business Industry:
General Freight Trucking, Local
NAICS code 484110

Business Owner Demographics

Race: Unreported

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: N

Rural / Urban: Urban

Kent County, MI — SBA Office 0515 — Congressional District: MI-02

Similar Companies near Grand Rapids

In the Grand Rapids area, 16 businesses in the "General Freight Trucking, Local" industry received a PPP loan. These local businesses reported an average of 19 employees (compared to this company's 32) and received an average PPP loan of $142,558 (compared to this company's $314,400).

Industry PPP Comparison Statistics

Nationwide, 175,867 businesses in the "General Freight Trucking, Local" industry received a total of $6.6B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.

PPP recipients in this industry report an average of 4 employees, 88% lower than STS Transportation, LLC's reported 32 employees, and received an average PPP loan of $37,520, 88% lower than this company's loan of $314,400.

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/sts-transportation-llc-grand-rapids-mi