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PPP Loan Data — The Macomb Group, Inc.,
Sterling Heights, MI
The Macomb Group, Inc.
Entity: Corporation
Industry: Metal Service Centers and Other Metal Merchant Wholesalers
Location: Sterling Heights, MI
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The Macomb Group, Inc. is a corporation located at 6600 15 Mile Rd in Sterling Heights, Michigan that received a Coronavirus-related PPP loan from the SBA of $8,297,200.00 in April, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
497Loan Approved:
2020-04-28Lender:
COMERICA BANKThe Macomb Group, Inc. received a Paycheck Protection Loan of $8.3M through COMERICA BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, The Macomb Group, Inc.'s total 2019 payroll expenses were approximately $39.83M in order to qualify for the PPP loan amount received.
Based on their reported 497 jobs retained, this equals an estimated average yearly compensation of $80,134 per employee1.
Business Information - The Macomb Group, Inc. in Sterling Heights, MI
6600 15 Mile Rd
Sterling Heights, MI 48312
Business Industry
Metal Service Centers and Other Metal Merchant Wholesalers (NAICS code 423510)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: MI-09Similar Companies near Sterling Heights
In the Sterling Heights area, 3 businesses in the "Metal Service Centers and Other Metal Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 167 employees (compared to this company's 497) and received an average PPP loan of $2,782,652 (compared to this company's $8.3M).
Similar Nearby Businesses Who Received PPP Funding:
Oakland Steel Inc
Sterling Heights, MI
F H Bourke Associates Inc
Sterling Heights, MI
Industry PPP Comparison Statistics
Nationwide, 2,691 businesses in the "Metal Service Centers and Other Metal Merchant Wholesalers" industry received a total of $697,432,843.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.
PPP recipients in this industry report an average of 18 employees, 96% lower than The Macomb Group, Inc.'s reported 497 employees, and received an average PPP loan of $259,172, 97% lower than this company's loan of $8.3M.
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.
Footnotes & Information
1. 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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