PPP Loan Data — The Energy Group, Inc, Grosse Pointe Farms, MI
The Energy Group, Inc
Location: Grosse Pointe Farms, MITweet This • Search All PPP Data
The Energy Group, Inc is a corporation located at 18640 Mack Ave in Grosse Pointe Farms, Michigan that received a Coronavirus-related PPP loan from the SBA of $4,635,195.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
The Energy Group, Inc in Grosse Pointe Farms, MI received a Paycheck Protection Loan of $4.64M through Independent 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 October, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.Read More
Understanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.Read More
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 Energy Group, Inc's 2019 payroll expenses are estimated to be at least $22.25M.
Based on their reported 273 jobs retained, this equals an estimated average yearly compensation of $81,498 per employee1
Reported PPP Proceed Usage:
On the PPP application, The Energy Group, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $4,635,195
Business Information - The Energy Group, Inc in Grosse Pointe Farms, MI
18640 Mack Ave
Grosse Pointe Farms, MI 48236
Other Scientific and Technical Consulting Services
NAICS code 541690
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Businesses Using Same Address:
There is one other business that received a PPP loan registered to the same address as The Energy Group, Inc.
Lawrence Rider El
Similar Companies near Grosse Pointe Farms
In the Grosse Pointe Farms area, 8 businesses in the "Other Scientific and Technical Consulting Services" industry received a PPP loan. These local businesses reported an average of 37 employees (compared to this company's 273) and received an average PPP loan of $601,292 (compared to this company's $4.64M).
Similar Nearby Businesses Who Received PPP Funding:
Max Michael Consulting & Business Solutions
Max Michael Consulting And Business Sol
Oak Park, MI
Oak Park, MI
Grosse Pointe Woods, MI
Nick Karoutsos Painting Co
Grosse Pt Wds, MI
Kaleta Research, Inc
Grosse Pointe Woods, MI
Industry PPP Comparison Statistics
Nationwide, 27,933 businesses in the "Other Scientific and Technical Consulting Services" industry received a total of $2.09B 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 6 employees, 98% lower than The Energy Group, Inc's reported 273 employees, and received an average PPP loan of $74,797, 98% lower than this company's loan of $4.64M.
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.
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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