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PPP Loan Data — Workbox Staffing LLC, Grand Rapids, MI

SBA PPP loan data, payroll data, and salaries for Workbox Staffing LLC
MI

Workbox Staffing LLC

Entity: Limited Liability Company (LLC)

Industry: Temporary Help Services

Location: Grand Rapids, MI

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Workbox Staffing LLC is a limited liability company (LLC) located at 1350 Scribner Ave Nw in Grand Rapids, Michigan that received a Coronavirus-related PPP loan from the SBA of $7,740,245.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$7.74M

Jobs Retained:

500

Loan Approved:

2020-04-10

Lender:

MERCANTILE BANK OF MICHIGAN

Workbox Staffing LLC in Grand Rapids, MI received a Paycheck Protection Loan of $7.74M through MERCANTILE BANK OF MICHIGAN, which was approved in April, 2020.

Based on standard PPP eligibility rules, Workbox Staffing LLC's total 2019 payroll expenses were approximately $37.15M in order to qualify for the PPP loan amount received.

Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $74,306 per employee1.

Because the loan received by Workbox Staffing LLC is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Workbox Staffing LLC in Grand Rapids, MI

Workbox Staffing LLC
1350 Scribner Ave Nw
Grand Rapids, MI 49504

Business Industry

Temporary Help Services (NAICS code 561320)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MI-03

Similar Companies near Grand Rapids

In the Grand Rapids area, 3 businesses in the "Temporary Help Services" industry received a PPP loan. These local businesses reported an average of 500 employees (compared to this company's 500) and received an average PPP loan of $4,041,902 (compared to this company's $7.74M).

Industry PPP Comparison Statistics

Nationwide, 4,404 businesses in the "Temporary Help Services" industry received a total of $2,681,304,257.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 1% of the total PPP funding allocated.

PPP recipients in this industry report an average of 61 employees, 88% lower than Workbox Staffing LLC's reported 500 employees, and received an average PPP loan of $608,834, 92% lower than this company's loan of $7.74M.

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, and is published unmodified, as provided by the SBA.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. 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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/workbox-staffing-llc-grand-rapids-mi