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PPP Loan Data — Avenica, Inc.,
Minneapolis, MN
Avenica, Inc.
Entity: Corporation
Industry: All Other Professional, Scientific, and Technical Services
Location: Minneapolis, MN
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Avenica, Inc. is a corporation located at 708 1st Street North, Ste 245 in Minneapolis, Minnesota that received a Coronavirus-related PPP loan from the SBA of $2,561,100.00 in April, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
259Loan Approved:
2020-04-08Lender:
BREMER BANK, NATIONAL ASSOCIATIONAvenica, Inc. in Minneapolis, MN received a Paycheck Protection Loan of $2.56M through BREMER BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Avenica, Inc.'s total 2019 payroll expenses were approximately $12.29M in order to qualify for the PPP loan amount received.
Based on their reported 259 jobs retained, this equals an estimated average yearly compensation of $47,464 per employee1.
Business Information - Avenica, Inc. in Minneapolis, MN
708 1st Street North, Ste 245
Minneapolis, MN 55401
Business Industry
All Other Professional, Scientific, and Technical Services (NAICS code 541990)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: MN-05Similar Companies near Minneapolis
In the Minneapolis area, 25 businesses in the "All Other Professional, Scientific, and Technical Services" industry received a PPP loan. These local businesses reported an average of 19 employees (compared to this company's 259) and received an average PPP loan of $267,795 (compared to this company's $2.56M).
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Industry PPP Comparison Statistics
Nationwide, 63,722 businesses in the "All Other Professional, Scientific, and Technical Services" industry received a total of $4,746,522,934.00 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, 98% lower than Avenica, Inc.'s reported 259 employees, and received an average PPP loan of $74,488, 97% lower than this company's loan of $2.56M.
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.
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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