PPP Loan Data — The Camera Shop Of Lansing Inc, Norton Shores, MI
The Camera Shop Of Lansing Inc is a subchapter s corporation located at 2634 Henry St in Norton Shores, Michigan that received a Coronavirus-related PPP loan from the SBA of $25,275.00 in January, 2021.
PPP Loan Information
Loan Status:Ongoing Loan
The Camera Shop Of Lansing Inc in Norton Shores, MI received a Paycheck Protection Loan of $25,275 through ChoiceOne Bank, which was approved in January, 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, The Camera Shop Of Lansing Inc's 2019 payroll expenses are estimated to be at least $121,320.
Based on their reported 7 jobs retained, this equals an estimated average yearly compensation of $17,331 per employee1
Reported PPP Proceed Usage:
On the PPP application, The Camera Shop Of Lansing Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,270
- Utilities: $1
Business Information - The Camera Shop Of Lansing Inc in Norton Shores, MI
2634 Henry St
Norton Shores, MI 49441
NAICS code 443142
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Norton Shores
In the Norton Shores area, 5 businesses in the "Electronics Stores" industry received a PPP loan. These local businesses reported an average of 10 employees (compared to this company's 7) and received an average PPP loan of $46,380 (compared to this company's $25,275).
Similar Nearby Businesses Who Received PPP Funding:
Mark's Photo & Video Inc
The Camera Shop Of Traverse City
Norton Shores, MI
The Camera Shop Of Muskegon, Inc
Norton Shores, MI
Industry PPP Comparison Statistics
Nationwide, 13,096 businesses in the "Electronics Stores" industry received a total of $848.58M 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 8 employees, 14% higher than The Camera Shop Of Lansing Inc's reported 7 employees, and received an average PPP loan of $64,797, 156% higher than this company's loan of $25,275.
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Footnotes & Information
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