PPP Loan Data — Wimsatt Building Materials Corporation, Wayne, MI
Wimsatt Building Materials Corporation
Location: Wayne, MITweet This • Search All PPP Data
Wimsatt Building Materials Corporation is a corporation located at 36340 Van Born Road in Wayne, Michigan that received a Coronavirus-related PPP loan from the SBA of $4,494,700.00 in April, 2020.
$ PPP Loan Information Loan #3618507204
Loan Status:Ongoing Loan
Wimsatt Building Materials Corporation in Wayne, MI received a Paycheck Protection Loan of $4.49M through Comerica Bank, which was approved in April, 2020.
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, Wimsatt Building Materials Corporation's 2019 payroll expenses are estimated to be at least $21.57M.
Based on their reported 292 jobs retained, this equals an estimated average yearly compensation of $73,885 per employee1
Reported PPP Proceed Usage:
On the PPP application, Wimsatt Building Materials Corporation reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $3,595,770
- Mortgage Interest: $898,930
Business Information - Wimsatt Building Materials Corporation in Wayne, MI
36340 Van Born Road
Wayne, MI 48184
Roofing, Siding, and Insulation Material Merchant Wholesalers
NAICS code 423330
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 1,220 businesses in the "Roofing, Siding, and Insulation Material Merchant Wholesalers" industry received a total of $214,612,578.00 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 15 employees, 95% lower than Wimsatt Building Materials Corporation's reported 292 employees, and received an average PPP loan of $175,912, 96% lower than this company's loan of $4.49M.
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Footnotes & Information
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