PPP Loan Data — Top Flite Financial, Inc, Williamston, MI
Top Flite Financial, Inc is a corporation located at 201 School St in Williamston, Michigan that received a Coronavirus-related PPP loan from the SBA of $2,567,900.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 315 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:First National Bank in Howell
Top Flite Financial, Inc in Williamston, MI received a Paycheck Protection Loan of $2.57M through First National Bank in Howell, 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, Top Flite Financial, Inc's 2019 payroll expenses are estimated to be at least $12.33M.
Based on their reported 315 jobs retained, this equals an estimated average yearly compensation of $39,130 per employee1
Reported PPP Proceed Usage:
On the PPP application, Top Flite Financial, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,247,900
- Utilities: $50,000
- Rent: $250,000
- Debt Interest: $20,000
Business Information - Top Flite Financial, Inc in Williamston, MI
201 School St
Williamston, MI 48895
Mortgage and Nonmortgage Loan Brokers
NAICS code 522310
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 6,723 businesses in the "Mortgage and Nonmortgage Loan Brokers" industry received a total of $679.39M 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, 97% lower than Top Flite Financial, Inc's reported 315 employees, and received an average PPP loan of $101,055, 96% lower than this company's loan of $2.57M.
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Footnotes & Information
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