PPP Loan Data — Big Gain, Inc, Mankato, MN
Big Gain, Inc is a corporation located at 416 Mathews Street in Mankato, Minnesota that received a Coronavirus-related PPP loan from the SBA of $2,581,400.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:De Witt Bank & Trust Co.
Big Gain, Inc in Mankato, MN received a Paycheck Protection Loan of $2.58M through De Witt Bank & Trust Co., which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in March, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
Based on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, Big Gain, Inc's 2019 payroll expenses are estimated to be at least $12.39M.
Based on their reported 173 jobs retained, this equals an estimated average yearly compensation of $71,623 per employee1
Reported PPP Proceed Usage:
On the PPP application, Big Gain, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,581,400
Business Information - Big Gain, Inc in Mankato, MN
416 Mathews Street
Mankato, MN 56001
Other Animal Food Manufacturing
NAICS code 311119
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 1,250 businesses in the "Other Animal Food Manufacturing" industry received a total of $208.17M in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 15 employees, 91% lower than Big Gain, Inc's reported 173 employees, and received an average PPP loan of $166,539, 94% lower than this company's loan of $2.58M.
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Footnotes & Information
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