PPP Loan Data — STT, Inc, Mt. Pleasant, MI
STT, Inc is a subchapter s corporation located at 1600 N. Mission St. in Mt. Pleasant, Michigan that received a Coronavirus-related PPP loan from the SBA of $1,846,900.00 in April, 2020.
The company has reported itself as a female owned business, and employed at least 272 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
STT, Inc in Mt. Pleasant, MI received a Paycheck Protection Loan of $1.85M through Comerica Bank, 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, STT, Inc's 2019 payroll expenses are estimated to be at least $8.87M.
Based on their reported 272 jobs retained, this equals an estimated average yearly compensation of $32,592 per employee1
Reported PPP Proceed Usage:
On the PPP application, STT, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,477,584
- Mortgage Interest: $369,316
Business Information - STT, Inc in Mt. Pleasant, MI
1600 N. Mission St.
Mt. Pleasant, MI 48858
Security Guards and Patrol Services
NAICS code 561612
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 14,660 businesses in the "Security Guards and Patrol Services" industry received a total of $1.46B 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 18 employees, 93% lower than STT, Inc's reported 272 employees, and received an average PPP loan of $99,483, 95% lower than this company's loan of $1.85M.
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Footnotes & Information
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