PPP Loan Data — Wayne Investment Group, Southfield, MI
Wayne Investment Group
Entity: Limited Liability Company (LLC)
Location: Southfield, MITweet This • Search All PPP Data
Wayne Investment Group is a limited liability company (LLC) located in Southfield, Michigan that received a Coronavirus-related PPP loan from the SBA of $20,833.00 in January, 2021.
The company has reported itself as a Black or african american male owned business, and employed at least one person during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Itria Ventures LLC
Wayne Investment Group in Southfield, MI received a Paycheck Protection Loan of $20,833 through Itria Ventures LLC, which was approved in January, 2021.
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 November, 2021.
Reported PPP Proceed Usage:
On the PPP application, Wayne Investment Group reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $20,831
- Utilities: $1
Business Information - Wayne Investment Group in Southfield, MI
* Full address is redacted to protect the privacy of individuals.
Plumbing, Heating, and Air-Conditioning Contractors
NAICS code 238220
Business Owner Demographics
Race: Black or African American
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Southfield
In the Southfield area, 21 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a PPP loan. These local businesses reported an average of 19 employees (compared to this company's 1) and received an average PPP loan of $299,787 (compared to this company's $20,833).
Similar Nearby Businesses Who Received PPP Funding:
David Henry II
LS Heating And Cooling LLC
Adams Inline Plumbing LLC
Lathrup Village, MI
Brines Refrigeration Heating & Cooling Inc
Lathrup Village, MI
Industry PPP Comparison Statistics
Nationwide, 103,844 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a total of $13.03B 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 10 employees, 900% higher than Wayne Investment Group's reported 1 employees, and received an average PPP loan of $125,455, 502% higher than this company's loan of $20,833.
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.
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.
Have FederalPay.org's open data tools been valuable? Consider donating!