PPP Loan Data — Award Staffing Services, Inc., Bloomington, MN
Award Staffing Services, Inc. is a subchapter s corporation located at 10700 Lyndale Ave S in Bloomington, Minnesota that received a Coronavirus-related PPP loan from the SBA of $3,153,000.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 461 people during the applicable loan loan period.
$ PPP Loan Information
Lender:MINNESOTA BANK & TRUST
Award Staffing Services, Inc. in Bloomington, MN received a Paycheck Protection Loan of $3.15M through MINNESOTA BANK & TRUST, which was approved in April, 2020.
Based on standard PPP eligibility rules, Award Staffing Services, Inc.'s total 2019 payroll expenses were approximately $15.13M in order to qualify for the PPP loan amount received.
Based on their reported 461 jobs retained, this equals an estimated average yearly compensation of $32,830 per employee1.
Business Information - Award Staffing Services, Inc. in Bloomington, MN
10700 Lyndale Ave S
Bloomington, MN 55420
Temporary Help Services (NAICS code 561320)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: MALE OWNED
Veteran Status: NON-VETERANCongressional District: MN-03
Similar Companies near Bloomington
In the Bloomington area, 5 businesses in the "Temporary Help Services" industry received a PPP loan. These local businesses reported an average of 232 employees (compared to this company's 461) and received an average PPP loan of $1,923,340 (compared to this company's $3.15M).
Similar Nearby Businesses Who Received PPP Funding:
At Home With Care, Inc.
All Temporaries, Inc.
Personnel Management Group, Inc.
All Temporaries Midwest, Inc.
Industry PPP Comparison Statistics
Nationwide, 4,404 businesses in the "Temporary Help Services" industry received a total of $2,681,304,257.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 61 employees, 87% lower than Award Staffing Services, Inc.'s reported 461 employees, and received an average PPP loan of $608,834, 81% lower than this company's loan of $3.15M.
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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