PPP Loan Data — Subterra LLC, White Pine, MI
Entity: Limited Liability Company (LLC)
Location: White Pine, MITweet This • Search All PPP Data
Subterra LLC is a limited liability company (LLC) located at 104 Wilcox Road in White Pine, Michigan that received a Coronavirus-related PPP loan from the SBA of $25,375.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Citizens State Bank
Subterra LLC in White Pine, MI received a Paycheck Protection Loan of $25,375 through Citizens State 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 April, 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, Subterra LLC's 2019 payroll expenses are estimated to be at least $121,800.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $24,360 per employee1
Reported PPP Proceed Usage:
On the PPP application, Subterra LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,375
Business Information - Subterra LLC in White Pine, MI
104 Wilcox Road
White Pine, MI 49971
Research and Development in Biotechnology (except Nanobiotechnology)
NAICS code 541714
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 3,364 businesses in the "Research and Development in Biotechnology (except Nanobiotechnology)" industry received a total of $568.09M 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 12 employees, 140% higher than Subterra LLC's reported 5 employees, and received an average PPP loan of $168,873, 566% higher than this company's loan of $25,375.
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Footnotes & Information
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