PPP Loan Data — Zack Holdings, Inc, Warren, MI
Zack Holdings, Inc
Location: Warren, MITweet This • Search All PPP Data
Zack Holdings, Inc is a corporation located at 22100 Sherwood Ave in Warren, Michigan that received a Coronavirus-related PPP loan from the SBA of $1,557,200.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 138 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Zack Holdings, Inc in Warren, MI received a Paycheck Protection Loan of $1.56M through Comerica Bank, 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, Zack Holdings, Inc's 2019 payroll expenses are estimated to be at least $7.47M.
Based on their reported 138 jobs retained, this equals an estimated average yearly compensation of $54,163 per employee1
Reported PPP Proceed Usage:
On the PPP application, Zack Holdings, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,245,816
- Mortgage Interest: $311,384
Business Information - Zack Holdings, Inc in Warren, MI
22100 Sherwood Ave
Warren, MI 48091
Industrial Machinery and Equipment Merchant Wholesalers
NAICS code 423830
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Warren
In the Warren area, 8 businesses in the "Industrial Machinery and Equipment Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 28 employees (compared to this company's 138) and received an average PPP loan of $336,925 (compared to this company's $1.56M).
Similar Nearby Businesses Who Received PPP Funding:
Central Air Compressor Co
Satterlund Supply Company
Tom Matzka Inc
Westbrook Engineering Company, Inc
Frank Bacon Machinery Sales Co
MHZ Induction, Inc
Industrial Fluid Systems Inc
Industry PPP Comparison Statistics
Nationwide, 11,076 businesses in the "Industrial Machinery and Equipment Merchant Wholesalers" industry received a total of $2.24B 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 15 employees, 89% lower than Zack Holdings, Inc's reported 138 employees, and received an average PPP loan of $202,534, 87% lower than this company's loan of $1.56M.
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