PPP Loan Data — Ultimate Hydroforming, Inc., Sterling Heights, MI
Ultimate Hydroforming, Inc. is a corporation located at 42450 Yearego Dr in Sterling Heights, Michigan that received a Coronavirus-related PPP loan from the SBA of $2,534,700.00 in April, 2020.
$ PPP Loan Information
Ultimate Hydroforming, Inc. in Sterling Heights, MI received a Paycheck Protection Loan of $2.53M through INDEPENDENT BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Ultimate Hydroforming, Inc.'s total 2019 payroll expenses were approximately $12.17M in order to qualify for the PPP loan amount received.
Based on their reported 157 jobs retained, this equals an estimated average yearly compensation of $77,494 per employee1.
Business Information - Ultimate Hydroforming, Inc. in Sterling Heights, MI
42450 Yearego Dr
Sterling Heights, MI 48314
Other Metal Container Manufacturing (NAICS code 332439)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: MI-10
Similar Companies near Sterling Heights
In the Sterling Heights area, 2 businesses in the "Other Metal Container Manufacturing" industry received a PPP loan. These local businesses reported an average of 89 employees (compared to this company's 157) and received an average PPP loan of $1,462,100 (compared to this company's $2.53M).
Similar Nearby Businesses Who Received PPP Funding:
Nikolic Industries, Inc.
Sterling Heights, MI
Industry PPP Comparison Statistics
Nationwide, 325 businesses in the "Other Metal Container Manufacturing" industry received a total of $98,190,848.00 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 26 employees, 83% lower than Ultimate Hydroforming, Inc.'s reported 157 employees, and received an average PPP loan of $302,126, 88% lower than this company's loan of $2.53M.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!