PPP Loan Data — Aqseptence Group, Inc., New Brighton, MN
Aqseptence Group, Inc.
Location: New Brighton, MNTweet This • Search All PPP Data
Aqseptence Group, Inc. is a corporation located at 1950 Old Hwy 8 Nw in New Brighton, Minnesota that received a Coronavirus-related PPP loan from the SBA of $5,460,639.00 in April, 2020.
$ PPP Loan Information
Lender:BANK OF THE WEST
Aqseptence Group, Inc. received a Paycheck Protection Loan of $5.46M through BANK OF THE WEST, which was approved in April, 2020.
Based on standard PPP eligibility rules, Aqseptence Group, Inc.'s total 2019 payroll expenses were approximately $26.21M in order to qualify for the PPP loan amount received.
Based on their reported 340 jobs retained, this equals an estimated average yearly compensation of $77,091 per employee1.
Business Information - Aqseptence Group, Inc. in New Brighton, MN
1950 Old Hwy 8 Nw
New Brighton, MN 55112
All Other Miscellaneous Fabricated Metal Product Manufacturing (NAICS code 332999)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: MN-04
Similar Companies near New Brighton
In the New Brighton area, 2 businesses in the "All Other Miscellaneous Fabricated Metal Product Manufacturing" industry received a PPP loan. These local businesses reported an average of 176 employees (compared to this company's 340) and received an average PPP loan of $2,811,653 (compared to this company's $5.46M).
Similar Nearby Businesses Who Received PPP Funding:
New Brighton, MN
Industry PPP Comparison Statistics
Nationwide, 4,328 businesses in the "All Other Miscellaneous Fabricated Metal Product Manufacturing" industry received a total of $1,219,008,137.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.
PPP recipients in this industry report an average of 22 employees, 94% lower than Aqseptence Group, Inc.'s reported 340 employees, and received an average PPP loan of $281,656, 95% lower than this company's loan of $5.46M.
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.
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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