PPP Loan Data — Wixom Lake Gas & Launch LLC, Beaverton, MI
Wixom Lake Gas & Launch LLC is a limited liability company (LLC) located at 1119 Estey Rd in Beaverton, Michigan that received a Coronavirus-related PPP loan from the SBA of $46,140.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least eight people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Mercantile Bank of Michigan
Wixom Lake Gas & Launch LLC in Beaverton, MI received a Paycheck Protection Loan of $46,140 through Mercantile Bank of Michigan, 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
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, Wixom Lake Gas & Launch LLC's 2019 payroll expenses are estimated to be at least $221,472.
Based on their reported 8 jobs retained, this equals an estimated average yearly compensation of $27,684 per employee1
Reported PPP Proceed Usage:
On the PPP application, Wixom Lake Gas & Launch LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $41,013
- Utilities: $5,127
Business Information - Wixom Lake Gas & Launch LLC in Beaverton, MI
1119 Estey Rd
Beaverton, MI 48612
Lessors of Residential Buildings and Dwellings
NAICS code 531110
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 28,867 businesses in the "Lessors of Residential Buildings and Dwellings" industry received a total of $2.03B 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 8 employees, the same amount reported by Wixom Lake Gas & Launch LLC and received an average PPP loan of $70,456, 53% higher than this company's loan of $46,140.
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Footnotes & Information
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