PPP Loan Data — Taylor Optical Supplies, Inc, Detroit, MI
Taylor Optical Supplies, Inc is a subchapter s corporation located at 28 W Adams, Suite 1005 in Detroit, Michigan that received a Coronavirus-related PPP loan from the SBA of $24,900.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Taylor Optical Supplies, Inc in Detroit, MI received a Paycheck Protection Loan of $24,900 through Comerica 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 May, 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, Taylor Optical Supplies, Inc's 2019 payroll expenses are estimated to be at least $119,520.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $23,904 per employee1
Reported PPP Proceed Usage:
On the PPP application, Taylor Optical Supplies, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $19,960
- Mortgage Interest: $4,940
Business Information - Taylor Optical Supplies, Inc in Detroit, MI
28 W Adams, Suite 1005
Detroit, MI 48226
Ophthalmic Goods Merchant Wholesalers
NAICS code 423460
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 733 businesses in the "Ophthalmic Goods Merchant Wholesalers" industry received a total of $74.97M 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 9 employees, 80% higher than Taylor Optical Supplies, Inc's reported 5 employees, and received an average PPP loan of $102,281, 311% higher than this company's loan of $24,900.
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Footnotes & Information
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