PPP Loan Data — Vanguard Fire And Supply Co, Wyoming, MI
Vanguard Fire And Supply Co is a subchapter s corporation located at 2101 Martindale Ave Sw in Wyoming, Michigan that received a Coronavirus-related PPP loan from the SBA of $2,475,000.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:The Huntington National Bank
Vanguard Fire And Supply Co in Wyoming, MI received a Paycheck Protection Loan of $2.48M through The Huntington National Bank, 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 August, 2021.
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, Vanguard Fire And Supply Co's 2019 payroll expenses are estimated to be at least $11.88M.
Based on their reported 182 jobs retained, this equals an estimated average yearly compensation of $65,275 per employee1
Reported PPP Proceed Usage:
On the PPP application, Vanguard Fire And Supply Co reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,475,000
Business Information - Vanguard Fire And Supply Co in Wyoming, MI
2101 Martindale Ave Sw
Wyoming, MI 49509
NAICS code 922160
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 2,180 businesses in the "Fire Protection" industry received a total of $290.59M 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 13 employees, 93% lower than Vanguard Fire And Supply Co's reported 182 employees, and received an average PPP loan of $133,300, 95% lower than this company's loan of $2.48M.
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Footnotes & Information
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