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

PPP Loan Data — Ultimate Solutions, Livonia, MI

ALERT: There are 2 PPP loans for a total of $50,834 in our database for businesses with the name "Ultimate Solutions" in Livonia, 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 Ultimate Solutions
MI

Ultimate Solutions

Entity: Corporation

Industry: Residential Mental Health and Substance Abuse Facilities

Location: Livonia, MI

Search All PPP Data

Ultimate Solutions is a corporation located at 29240 Buckingham St Ste 11 in Livonia, Michigan that received a Coronavirus-related PPP loan from the SBA of $25,417.00 in February, 2021.

$ PPP Loan Information
Loan #1224158505

Loan Size:

$25,417

Jobs Retained:

12

Loan Approved:

2021-02-18

Loan Status:

Ongoing Loan

Lender:

Square Capital, LLC

Ultimate Solutions in Livonia, MI received a Paycheck Protection Loan of $25,417 through Square Capital, LLC, which was approved in February, 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.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Ultimate Solutions' 2019 payroll expenses are estimated to be at least $122,002.

Based on their reported 12 jobs retained, this equals an estimated average yearly compensation of $10,167 per employee1

Reported PPP Proceed Usage:

On the PPP application, Ultimate Solutions reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $25,414
  • Utilities: $1

Business Information - Ultimate Solutions in Livonia, MI

Ultimate Solutions
29240 Buckingham St Ste 11
Livonia, MI 48154

Business Industry:
Residential Mental Health and Substance Abuse Facilities
NAICS code 623220

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Wayne County, MI — SBA Office 0515 — Congressional District: MI-11

Industry PPP Comparison Statistics

Nationwide, 3,600 businesses in the "Residential Mental Health and Substance Abuse Facilities" industry received a total of $1.06B 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 36 employees, 200% higher than Ultimate Solutions' reported 12 employees, and received an average PPP loan of $295,104, 1061% higher than this company's loan of $25,417.

SBA PPP loan data, payroll data, and salaries for Ultimate Solutions
MI

Ultimate Solutions

Entity: Corporation

Industry: Residential Mental Health and Substance Abuse Facilities

Location: Livonia, MI

Search All PPP Data

Ultimate Solutions is a corporation located at 29240 Buckingham 11 in Livonia, Michigan that received a Coronavirus-related PPP loan from the SBA of $25,417.00 in April, 2020.

$ PPP Loan Information
Loan #9236307205

Loan Size:

$25,417

Jobs Retained:

13

Loan Approved:

2020-04-28

Loan Status:

Paid in Full or Forgiven

Lender:

Square Capital, LLC

Ultimate Solutions in Livonia, MI received a Paycheck Protection Loan of $25,417 through Square Capital, LLC, which was approved in April, 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 March, 2021.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Ultimate Solutions' 2019 payroll expenses are estimated to be at least $122,002.

Based on their reported 13 jobs retained, this equals an estimated average yearly compensation of $9,385 per employee1

Reported PPP Proceed Usage:

On the PPP application, Ultimate Solutions reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $19,063
  • Utilities: $3,177
  • Mortgage Interest: $3,177

Business Information - Ultimate Solutions in Livonia, MI

Ultimate Solutions
29240 Buckingham 11
Livonia, MI 48154

Business Industry:
Residential Mental Health and Substance Abuse Facilities
NAICS code 623220

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Wayne County, MI — SBA Office 0515 — Congressional District: MI-11

Industry PPP Comparison Statistics

Nationwide, 3,600 businesses in the "Residential Mental Health and Substance Abuse Facilities" industry received a total of $1.06B 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 36 employees, 177% higher than Ultimate Solutions' reported 13 employees, and received an average PPP loan of $295,104, 1061% higher than this company's loan of $25,417.

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/ultimate-solutions-livonia-mi