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Coronavirus PPP Loans: Where The Money Went In Michigan - Detroit, MI - Here is a list of businesses that received the largest loans from the program in Michigan. The following data was provided by the SBA & US Treasury Department showing a breakdown of all the companies who received loans over $150,000. The campaign shared a July 16 article published by the Detroit Free Press to back, Harris’ claim. PPP loan is called the paycheck protection program. This is NOT a directory of companies that received a loan using SBA.com® loan request service. You can apply for a new PPP forgivable loan, whether or not you received one before. The Small Business Administration has released a list of businesses that have received emergency pandemic loans. The largest of the loans range between $5-10 million; 185 Michigan companies received loans in that range. Reveal, from the Center for Investigative Reporting, looked at 5 million PPP loans from the first two rounds. What PPP loan data shows. Businesses linked to the Chinese Communist Party, and therefore subject to force technology transfer to the government in China, received at least $192 million and as much as $419 million in initial PPP loans from the U.S. Small Business Administration, JusttheNews.com reported. When the government spends money, taxpayers deserve to know how it was spent, Clarion Ledger Editor Marlon A. Walker says. You can apply for a new PPP forgivable loan, whether or not you received one before. Since the release of the PPP database, a number of errors related to the loan amounts received by small businesses have been reported. What type of businesses qualify for the PPP? Compare the spread of the infection with other areas in the U.S. Free Estate Planning & Living Trust Workshop Live Q&A Friday 3PM, Detroit, Rocket Community Fund, Announce $2.2M Housing Investment. We have 100 ways to avoid going stir crazy indoors. A data analysis found businesses received PPP loans at higher rates in majority-white communities than in those in areas with Latino, Black or Asian majorities. Date: April 19, 2021. New Round of PPP Funds Whether or not You’ve Received PPP Before. In many of the top 52 metro areas in the U.S., businesses in majority-white neighborhoods received loans at 1.5 to 2 times the rate of businesses in majority-Black and Latinx communities. This table shows the top 5 industries in Michigan by number of loans awarded, with average loan amounts and number of jobs reported. See which businesses in your Michigan community received $150K or more in PPP loans. Nearly 75 Greater Lansing businesses received loans between $1 million and $10 million from the federal Paycheck Protection Program. We debunk the myths. Here is a searchable database for Michigan companies that received loans of over $150,000. Michigan ranks ninth for total loan amount received, with California ranking first issuing more than $66.6 billion in loans. What are the symptoms? If your business is listed here as receiving the wrong loan amount, email joey.oliver@patch.com so we can make the correction. The Small Business Administration, which runs the PPP… Across the county, more than 4.9 million loans of more than $150,000 were distributed to businesses and nonprofit organizations. New Round of PPP Funds Whether or not You’ve Received PPP Before. Here is a searchable database for Michigan companies that received loans of over $150,000. MICHIGAN — The U.S. Small Business Administration and U.S. Treasury Department have released details for the country's Paycheck Protection Program that helps businesses affected by the coronavirus pandemic. This directory is composed of all companies that have received loans under the Paycheck Protections Program according to data provided by the U.S. Treasury. This can be your first or second PPP loan. Other loan programs, such as Economic Injury Disaster Loans, are not included in this database. In Michigan, there have been just over 133,000 PPP loans, totaling $7.5 billion. Contact JC Reindl: 313-222-6631 or jcreindl@freepress.com . Kanye West, Planned Parenthood, others received PPP loans Across the country, more than 660,000 businesses received $150,000 or up to the $10 million maximum from the … The loans are made by lending institutions including banks and credit unions and are guaranteed by the SBA. The PPP / Cares Act that was put in place to help business affected by Covid-19. Select a City for all PPP loans filed within that jouristiction, or … Eligibility: Your Income—GROSS RECEIPTS—must have declined by 25% or more in any quarter of 2020 compared to 2019. All PPP loans are subject to review by the SBA and all loans over $2 million are automatically reviewed by the SBA. For the loans … Will Lawmakers Suspend Michigan's Tough Third Grade Retention Rule Set To Take Effect This Year? Check out bed occupancy rate of hospitals. 16 article published by the Detroit Free Press to back Sen. Harris’ claim. Notice: Treatment of Paycheck Protection Program (PPP) Loans Under the Michigan Income Tax Act. Michigan PPP Funded Companies. Here are the known listed companies in the Thumb-area that have received PPP loans with the ranges of what they received: Huron County Received between $5 and $10 million: Receiving a PPP loan by itself does not disqualify you for unemployment. It reported that of the 785 Michigan restaurants that had received a PPP loan … Although nonprofits involved in Michigan politics have received PPP loans, the money can't go to the types of organizations that directly campaign for candidates. The campaign shared a Jul. U.S. Treasury information shows nearly 20,000 businesses and nonprofits in Michigan were approved for loans of more than $150,000. So if you got a PPP loan , basically, the government is giving you funds to pay yourself, to replace the income you’re not making for eight weeks. A majority of the PPP loans were under $150,000 and so the list is not a complete look at who received the funds, but it offers a glimpse into who received PPP money. The nonprofit received a PPP loan of $350,000-$1,000,000 in order to retain 87 jobs. In Michigan, more than 128,000 small businesses received a combined $16 billion in PPP loans. Follow him on Twitter @ jcreindl . You cannot get more than two. The information from the Treasury Department also shows that more than 100,000 Michigan businesses received loans … Related: Kanye West, law firms, hedge funds all got PPP loans. Experts recommend that even healthy people should stay inside as the coronavirus outbreak spreads. PPP Loan Search › Michigan. If you meet the eligibility requirements for a PPP loan, you should apply for PPP funds since the amount of money you receive on PPP can be significant (up to $20,833 per loan for a self-employed person), far in excess of most unemployment programs. The shopping list for your own home quarantine kit. Agriculture, Forestry, Fishing and Hunting, Professional, Scientific, and Technical Services, Administrative and Support and Waste Management and Remediation Services, Other Services (except Public Administration). This is your state and county equivalent level look at how many have gotten a dose or doses of the COVID-19 vaccine. The total amount of money distributed through loans greater than $150,000 exceeded $521 billion. 95% of people don't wash their hands correctly. Use our searchable database to see who in Michigan received funds. LANSING, Mich. — Taxpayers who accepted federal Paycheck Protection Program (PPP) loans will not be taxed on loans forgiven through that program, the Michigan … American waiving change fees amid coronavirus crisis, MICHIGAN EDUCATION SPECIAL SERVICES ASSOCIATION, MICHIGAN HEALTH INFORMATION NETWORK SHARED SERVICES, LANSING URGENT CARE, PLC, A MICHIGAN PROFESSIONAL LIMITED LI, YOUNG MENS CHRISTIAN ASSOCIATION OF LANSING MICHIGAN. The report noted the irony of the companies most in need of PPP loans at times were passed over for entities tied to China. Using the SBA’s report, along with 2019 population estimates from the U.S. Census Bureau, the total value of PPP loans per-capita in each state and the District of … This map is your interactive guide to confirmed cases, recoveries and deaths from the coronavirus around the state, nation and world. Has the curve flatten in my town? All PPP loans are subject to review by the SBA and all loans over $2 million are automatically reviewed by the SBA. What should I do if I think I have coronavirus? Editor's Note: The data used in this story came from the Small Business Administration. The average size of a PPP loan is around $107,000 and 86.5 percent of all loans were for less than $150,000, according to the SBA. This can be your first or second PPP loan. Companies can receive up to $10 million in forgivable PPP loans, and at least 4,840 companies across the US have received more than $5m. Loan applications are reviewed by a loan review committee, with the first phase announced on June 11, 2020 and the second phase announced on September 11, 2020. ... Our database below includes all Michigan businesses that received $150,000 or … This interactive map provides a picture of the ranks of the unemployed at the national, state and county level. Today on Stateside, we break down who received loans federal Paycheck Protection Program loans in Metro Detroit, and who was left out.Plus, a conversation with Michigan Attorney General Dana Nessel about how the state will handle the new U.S. Supreme Court ruling on juvenile lifers. This notice outlines the State of Michigan's conformity to the federal income tax treatment of loans issued under the Paycheck Protection Program and provides additional guidance the various income tax issues raised by the federal loan program. Eligibility: Your Income—GROSS RECEIPTS—must have declined by 25% or more in any quarter of 2020 compared to 2019. So the PPP loan is basically giving you the same amount that you would have received as wages or payroll for eight weeks. The Small Business Administration has released a list of businesses that have received … You cannot get more than two. The average size of a PPP loan is around $107,000 and 86.5 percent of all loans were for less than $150,000, according to the SBA. This data comes from the Small Business Administration, and includes lender-approved loans under the Paycheck Protection Program as of March 3, 2021. SBA public records show that the partners in the Zingerman’s community of restaurant businesses applied for PPP loans for as much as $6.9 million in order to retain over 614 jobs total. As of three weeks ago, the SBA said that in the three months since opening the forgiveness process, the agency forgave more than 1.1 million PPP loans nationwide totaling more than $100 billion. GOP Pushes Bills To Restrict The Use Of Ballot Boxes On Election Day, Detroit Goes Door-To-Door, Pays Drivers To Promote COVID-19 Vaccinations, Red Cross Blood Drives Coming Up In Detroit Area. There are some outlandish rumors out there. The tool below can be used to search all publicly released PPP recipients in MI. SINAS DRAMIS LARKIN GRAVES & WALDMAN P.C. There is further data we’re working on for the loans under $150k however so check back in the future for that. It reported that of the 785 Michigan restaurants that had received … Michigan Virtual University, a Lansing-based nonprofit corporation that is supported with state tax dollars received a PPP loan in the range of $2 million to $5 million. Michigan has a total of 217,858 businesses that received Paycheck Protection Program (PPP) loans from the Small Business Administration. All loans made through the Michigan Small Business Relief Program will be approved through Michigan Strategic Fund delegated authority and announced as they are finalized. Ranks of the ranks of the ranks of the Covid-19 vaccine total of 217,858 businesses that received loans in range. 'S Tough Third Grade Retention Rule Set to Take Effect this Year Investigative,. 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