PPP Loan Data — The Cottage Gardns, Inc, Lansing, MI
The Cottage Gardns, Inc
Location: Lansing, MITweet This • Search All PPP Data
The Cottage Gardns, Inc is a corporation located at 2611 Waverly Hwy in Lansing, Michigan that received a Coronavirus-related PPP loan from the SBA of $2,451,600.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Capitol National Bank
The Cottage Gardns, Inc in Lansing, MI received a Paycheck Protection Loan of $2.45M through Capitol National Bank, which was approved in April, 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, The Cottage Gardns, Inc's 2019 payroll expenses are estimated to be at least $11.77M.
Based on their reported 250 jobs retained, this equals an estimated average yearly compensation of $47,071 per employee1
Reported PPP Proceed Usage:
On the PPP application, The Cottage Gardns, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,451,600
Business Information - The Cottage Gardns, Inc in Lansing, MI
2611 Waverly Hwy
Lansing, MI 48911
Flower, Nursery Stock, and Florists' Supplies Merchant Wholesalers
NAICS code 424930
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, 4,321 businesses in the "Flower, Nursery Stock, and Florists' Supplies Merchant Wholesalers" industry received a total of $394.49M 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, 95% lower than The Cottage Gardns, Inc's reported 250 employees, and received an average PPP loan of $91,297, 96% lower than this company's loan of $2.45M.
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Footnotes & Information
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