PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Turn Out Tool LLC, Lapeer, MI

ALERT: There are 2 PPP loans for a total of $14,900 in our database for businesses with the name "Turn Out Tool LLC" in Lapeer, MI. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Turn Out Tool LLC
MI

Turn Out Tool LLC

Entity: Limited Liability Company (LLC)

Industry: Other Industrial Machinery Manufacturing

Location: Lapeer, MI

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Turn Out Tool LLC is a limited liability company (LLC) located in Lapeer, Michigan that received a Coronavirus-related PPP loan from the SBA of $7,450.00 in March, 2021.

The company has reported itself as a White female owned business, and employed at least one person during the applicable loan loan period.

$ PPP Loan Information
Loan #3220788606

Loan Size:

$7,450

Jobs Retained:

1

Loan Approved:

2021-03-16

Loan Status:

Ongoing Loan

Lender:

The Huntington National Bank

Turn Out Tool LLC in Lapeer, MI received a Paycheck Protection Loan of $7,450 through The Huntington National Bank, which was approved in March, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.


PPP Calculation Note: The total PPP loan an eligible business or individual can receive is based on 2.5 times their average monthly 2019 payroll expenses, capped at $100,000 annually per employee.

Reported PPP Proceed Usage:

On the PPP application, Turn Out Tool LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $7,448
  • Utilities: $1

Business Information - Turn Out Tool LLC in Lapeer, MI

Turn Out Tool LLC
Lapeer, MI
* Full address is redacted to protect the privacy of individuals.

Business Industry:
Other Industrial Machinery Manufacturing
NAICS code 333249

Business Owner Demographics

Race: White

Ethnicity: Unreported

Gender: Female Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: N

Rural / Urban: Rural

Lapeer County, MI — SBA Office 0515 — Congressional District: MI-10

Similar Companies near Lapeer

In the Lapeer area, 4 businesses in the "Other Industrial Machinery Manufacturing" industry received a PPP loan. These local businesses reported an average of 12 employees (compared to this company's 1) and received an average PPP loan of $160,526 (compared to this company's $7,450).

Industry PPP Comparison Statistics

Nationwide, 5,246 businesses in the "Other Industrial Machinery Manufacturing" industry received a total of $1.07B 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 16 employees, 1500% higher than Turn Out Tool LLC's reported 1 employees, and received an average PPP loan of $203,219, 2628% higher than this company's loan of $7,450.

SBA PPP loan data, payroll data, and salaries for Turn Out Tool LLC
MI

Turn Out Tool LLC

Entity: Limited Liability Company (LLC)

Industry: Rolling Mill and Other Metalworking Machinery Manufacturing

Location: Lapeer, MI

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Turn Out Tool LLC is a limited liability company (LLC) located in Lapeer, Michigan that received a Coronavirus-related PPP loan from the SBA of $7,450.00 in July, 2020.

The company has reported itself as a White female owned business, and employed at least one person during the applicable loan loan period.

$ PPP Loan Information
Loan #2150048203

Loan Size:

$7,450

Jobs Retained:

1

Loan Approved:

2020-07-31

Loan Status:

Paid in Full or Forgiven

Lender:

The Huntington National Bank

Turn Out Tool LLC in Lapeer, MI received a Paycheck Protection Loan of $7,450 through The Huntington National Bank, which was approved in July, 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 April, 2021.


PPP Calculation Note: The total PPP loan an eligible business or individual can receive is based on 2.5 times their average monthly 2019 payroll expenses, capped at $100,000 annually per employee.

Reported PPP Proceed Usage:

On the PPP application, Turn Out Tool LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $7,450

Business Information - Turn Out Tool LLC in Lapeer, MI

Turn Out Tool LLC
Lapeer, MI
* Full address is redacted to protect the privacy of individuals.

Business Owner Demographics

Race: White

Ethnicity: Unreported

Gender: Female Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: Y

Rural / Urban: Rural

Lapeer County, MI — SBA Office 0515 — Congressional District: MI-10

Similar Companies near Lapeer

In the Lapeer area, 3 businesses in the "Rolling Mill and Other Metalworking Machinery Manufacturing" industry received a PPP loan. These local businesses reported an average of 84 employees (compared to this company's 1) and received an average PPP loan of $1,048,083 (compared to this company's $7,450).

Industry PPP Comparison Statistics

Nationwide, 715 businesses in the "Rolling Mill and Other Metalworking Machinery Manufacturing" industry received a total of $148.05M 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 18 employees, 1700% higher than Turn Out Tool LLC's reported 1 employees, and received an average PPP loan of $207,065, 2679% higher than this company's loan of $7,450.

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.

Search FederalPay's Full PPP Loan Database

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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Source: www.federalpay.org/paycheck-protection-program/turn-out-tool-llc-lapeer-mi