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PPP Loan Data — Synaptic Robotics LLC, Novi, MI

SBA PPP loan data, payroll data, and salaries for Synaptic Robotics LLC
MI

Synaptic Robotics LLC

Entity: Limited Liability Company (LLC)

Industry: Industrial Machinery and Equipment Merchant Wholesalers

Location: Novi, MI

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Synaptic Robotics LLC is a limited liability company (LLC) located in Novi, Michigan that received a Coronavirus-related PPP loan from the SBA of $20,832.00 in May, 2020.

$ PPP Loan Information
Loan #6212927706

Loan Size:

$20,832

Jobs Retained:

1

Loan Approved:

2020-05-01

Loan Status:

Paid in Full or Forgiven

Lender:

Bank of America, National Association

Synaptic Robotics LLC in Novi, MI received a Paycheck Protection Loan of $20,832 through Bank of America, National Association, which was approved in May, 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.


PPP Calculation Note: The total PPP loan an eligible business or individual can receive is based on 2.5 times their average monthly 2019 payroll expenses, capped at $100,000 annually per employee.

Reported PPP Proceed Usage:

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

  • Payroll: $20,832

Business Information - Synaptic Robotics LLC in Novi, MI

Synaptic Robotics LLC
Novi, MI
* Full address is redacted to protect the privacy of individuals.

Business Industry:
Industrial Machinery and Equipment Merchant Wholesalers
NAICS code 423830

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: New Business or 2 years or less

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Oakland County, MI — SBA Office 0515 — Congressional District: MI-11

Similar Companies near Novi

In the Novi area, 4 businesses in the "Industrial Machinery and Equipment Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 105 employees (compared to this company's 1) and received an average PPP loan of $1,743,189 (compared to this company's $20,832).

Industry PPP Comparison Statistics

Nationwide, 11,033 businesses in the "Industrial Machinery and Equipment Merchant Wholesalers" industry received a total of $2.24B 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 15 employees, 1400% higher than Synaptic Robotics LLC's reported 1 employees, and received an average PPP loan of $203,255, 876% higher than this company's loan of $20,832.

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.

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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/synaptic-robotics-llc-novi-mi