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PPP Loan Data — Abdo, Eick & Meyers, LLP, Mankato, MN

SBA PPP loan data, payroll data, and salaries for Abdo, Eick & Meyers, LLP
MN

Abdo, Eick & Meyers, LLP

Entity: Partnership

Industry: Offices of Certified Public Accountants

Location: Mankato, MN

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Abdo, Eick & Meyers, LLP is a partnership located at 100 Warren St, Ste 600 in Mankato, Minnesota that received a Coronavirus-related PPP loan from the SBA of $2,630,000.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.63M

Jobs Retained:

155

Loan Approved:

2020-04-07

Lender:

BANKVISTA

Abdo, Eick & Meyers, LLP in Mankato, MN received a Paycheck Protection Loan of $2.63M through BANKVISTA, which was approved in April, 2020.

Based on standard PPP eligibility rules, Abdo, Eick & Meyers, LLP's total 2019 payroll expenses were approximately $12.62M in order to qualify for the PPP loan amount received.

Based on their reported 155 jobs retained, this equals an estimated average yearly compensation of $81,445 per employee1.

Because the loan received by Abdo, Eick & Meyers, LLP 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 - Abdo, Eick & Meyers, LLP in Mankato, MN

Abdo, Eick & Meyers, LLP
100 Warren St, Ste 600
Mankato, MN 56001

Business Industry

Offices of Certified Public Accountants (NAICS code 541211)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MN-01

Similar Companies near Mankato

In the Mankato area, 5 businesses in the "Offices of Certified Public Accountants" industry received a PPP loan. These local businesses reported an average of 36 employees (compared to this company's 155) and received an average PPP loan of $587,200 (compared to this company's $2.63M).

Industry PPP Comparison Statistics

Nationwide, 37,661 businesses in the "Offices of Certified Public Accountants" industry received a total of $3,350,637,371.00 in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.

PPP recipients in this industry report an average of 6 employees, 96% lower than Abdo, Eick & Meyers, LLP's reported 155 employees, and received an average PPP loan of $88,968, 97% lower than this company's loan of $2.63M.

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.

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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/abdo-eick-and-meyers-llp-mankato-mn