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PPP Loan Data — Wolverine Human Services,
Grosse Pointe Park, MI
Wolverine Human Services
Entity: 501(c)3 – Non Profit
Industry: Rooming and Boarding Houses, Dormitories, and Workers' Camps
Location: Grosse Pointe Park, MI
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Wolverine Human Services is a 501(c)3 – non profit located at 15100 Mack Ave in Grosse Pointe Park, Michigan that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in June, 2021.
$
PPP Loan Information
Loan #1019759102
Loan Size:
Jobs Retained:
315Loan Approved:
2021-06-15Loan Status:
Paid in Full or ForgivenLender:
Opportunity Resource FundWolverine Human Services in Grosse Pointe Park, MI received a Paycheck Protection Loan of $2M through Opportunity Resource Fund, which was approved in June, 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 July, 2022.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Wolverine Human Services' 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 315 jobs retained, this equals an estimated average yearly compensation of $30,476 per employee1
Reported PPP Proceed Usage:
On the PPP application, Wolverine Human Services reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,995
- Utilities: $1
Business Information - Wolverine Human Services in Grosse Pointe Park, MI
15100 Mack Ave
Grosse Pointe Park, MI 48230
Business Industry:
Rooming and Boarding Houses, Dormitories, and Workers' Camps
NAICS code 721310
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 2,212 businesses in the "Rooming and Boarding Houses, Dormitories, and Workers' Camps" industry received a total of $102.23M 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 6 employees, 98% lower than Wolverine Human Services' reported 315 employees, and received an average PPP loan of $46,214, 98% lower than this company's loan of $2M.
Wolverine Human Services
Entity: 501(c)3 – Non Profit
Industry: Child and Youth Services
Location: Grosse Pointe Park, MI
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Wolverine Human Services is a 501(c)3 – non profit located at 15100 Mack Ave in Grosse Pointe Park, Michigan that received a Coronavirus-related PPP loan from the SBA of $4,123,500.00 in May, 2020.
$
PPP Loan Information
Loan #8625807310
Loan Size:
Jobs Retained:
500Loan Approved:
2020-05-01Loan Status:
Paid in Full or ForgivenLender:
Comerica BankWolverine Human Services in Grosse Pointe Park, MI received a Paycheck Protection Loan of $4.12M through Comerica Bank, which was approved in May, 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
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Wolverine Human Services' 2019 payroll expenses are estimated to be at least $19.79M.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $39,586 per employee1
Reported PPP Proceed Usage:
On the PPP application, Wolverine Human Services reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $4,123,500
Business Information - Wolverine Human Services in Grosse Pointe Park, MI
15100 Mack Ave
Grosse Pointe Park, MI 48230
Business Industry:
Child and Youth Services
NAICS code 624110
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 14,397 businesses in the "Child and Youth Services" industry received a total of $1.93B 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 19 employees, 96% lower than Wolverine Human Services' reported 500 employees, and received an average PPP loan of $134,154, 97% lower than this company's loan of $4.12M.
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.
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