PPP Loan Data — Wilson Marine Corporation, Brighton, MI
Wilson Marine Corporation
Location: Brighton, MITweet This • Search All PPP Data
Wilson Marine Corporation is a corporation located at 6095 W Grand River Ave in Brighton, Michigan that received a Coronavirus-related PPP loan from the SBA of $1,896,700.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:First National Bank in Howell
Wilson Marine Corporation in Brighton, MI received a Paycheck Protection Loan of $1.9M through First National Bank in Howell, 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 January, 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, Wilson Marine Corporation's 2019 payroll expenses are estimated to be at least $9.1M.
Based on their reported 158 jobs retained, this equals an estimated average yearly compensation of $57,621 per employee1
Reported PPP Proceed Usage:
On the PPP application, Wilson Marine Corporation reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,896,700
Business Information - Wilson Marine Corporation in Brighton, MI
6095 W Grand River Ave
Brighton, MI 48114
Other Automotive Mechanical and Electrical Repair and Maintenance
NAICS code 811118
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 22,608 businesses in the "Other Automotive Mechanical and Electrical Repair and Maintenance" industry received a total of $645.02M 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 3 employees, 98% lower than Wilson Marine Corporation's reported 158 employees, and received an average PPP loan of $28,531, 98% lower than this company's loan of $1.9M.
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Footnotes & Information
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