PPP Loan Data — Teachers Store Inc, Holt, MI
Teachers Store Inc
Location: Holt, MITweet This • Search All PPP Data
Teachers Store Inc is a corporation located at 2102 Aurelius Rd in Holt, Michigan that received a Coronavirus-related PPP loan from the SBA of $25,215.00 in May, 2020.
The company has reported itself as a male owned business, and employed at least seven people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Fifth Third Bank
Teachers Store Inc in Holt, MI received a Paycheck Protection Loan of $25,215 through Fifth Third Bank, which was approved in May, 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, Teachers Store Inc's 2019 payroll expenses are estimated to be at least $121,032.
Based on their reported 7 jobs retained, this equals an estimated average yearly compensation of $17,290 per employee1
Reported PPP Proceed Usage:
On the PPP application, Teachers Store Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,215
Business Information - Teachers Store Inc in Holt, MI
2102 Aurelius Rd
Holt, MI 48842
Other Professional Equipment and Supplies Merchant Wholesalers
NAICS code 423490
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: New Business or 2 years or less
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Holt
In the Holt area, 2 businesses in the "Other Professional Equipment and Supplies Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 9 employees (compared to this company's 7) and received an average PPP loan of $58,461 (compared to this company's $25,215).
Similar Nearby Businesses Who Received PPP Funding:
Industry PPP Comparison Statistics
Nationwide, 2,463 businesses in the "Other Professional Equipment and Supplies Merchant Wholesalers" industry received a total of $273.08M 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, 29% higher than Teachers Store Inc's reported 7 employees, and received an average PPP loan of $110,872, 340% higher than this company's loan of $25,215.
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