PPP Loan Data — Bois Forte Development Corp, Tower, MN
Bois Forte Development Corp is a non-profit organization located at 1430 Bois Forte Rd in Tower, Minnesota that received a Coronavirus-related PPP loan from the SBA of $3,959,000.00 in April, 2020.
The company has reported itself as an American indian or alaska native female owned non-profit, and employed at least 427 people during the applicable loan loan period.
$ PPP Loan Information
Lender:AMERICAN BANK OF THE NORTH
Bois Forte Development Corp in Tower, MN received a Paycheck Protection Loan of $3.96M through AMERICAN BANK OF THE NORTH, which was approved in April, 2020.
Based on standard PPP eligibility rules, Bois Forte Development Corp's total 2019 payroll expenses were approximately $19M in order to qualify for the PPP loan amount received.
Based on their reported 427 jobs retained, this equals an estimated average yearly compensation of $44,504 per employee1.
Business Information - Bois Forte Development Corp in Tower, MN
1430 Bois Forte Rd
Tower, MN 55790
Casinos (except Casino Hotels) (NAICS code 713210)
Business Owner Demographics
Race / Ethnicity: AMERICAN INDIAN OR ALASKA NATIVE
Gender: FEMALE OWNED
Veteran Status: UnreportedCongressional District: MN-08
Industry PPP Comparison Statistics
Nationwide, 493 businesses in the "Casinos (except Casino Hotels)" industry received a total of $236,923,979.00 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 53 employees, 88% lower than Bois Forte Development Corp's reported 427 employees, and received an average PPP loan of $480,576, 88% lower than this company's loan of $3.96M.
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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