PPP Loan Data — UIS Holdings, Inc, Dexter, MI
UIS Holdings, Inc is a corporation located at 2290 Bishop Circle East in Dexter, Michigan that received a Coronavirus-related PPP loan from the SBA of $1,737,384.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bank of Ann Arbor
UIS Holdings, Inc in Dexter, MI received a Paycheck Protection Loan of $1.74M through Bank of Ann Arbor, which was approved in April, 2020.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 83. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
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, UIS Holdings, Inc's 2019 payroll expenses are estimated to be at least $8.34M (not accounting for salary amounts > $100k).
Because the 75 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Reported PPP Proceed Usage:
On the PPP application, UIS Holdings, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,737,384
Business Information - UIS Holdings, Inc in Dexter, MI
2290 Bishop Circle East
Dexter, MI 48130
NAICS code 541380
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Dexter
In the Dexter area, 2 businesses in the "Testing Laboratories" industry received a PPP loan. These local businesses reported an average of 38 employees (compared to this company's 75) and received an average PPP loan of $872,234 (compared to this company's $1.74M).
Similar Nearby Businesses Who Received PPP Funding:
Superior Compliance International
Industry PPP Comparison Statistics
Nationwide, 4,541 businesses in the "Testing Laboratories" industry received a total of $814.04M 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, 79% lower than UIS Holdings, Inc's reported 75 employees, and received an average PPP loan of $179,264, 90% lower than this company's loan of $1.74M.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
Have FederalPay.org's open data tools been valuable? Consider donating!