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PPP Loan Data — Bois Forte Development Corp, Tower, MN

SBA PPP loan data, payroll data, and salaries for Bois Forte Development Corp
MN Nonprofit Organization

Bois Forte Development Corp

Entity: Non-profit Organization

Industry: Casinos (except Casino Hotels)

Location: Tower, MN

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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

Loan Size:

$3.96M

Jobs Retained:

427

Loan Approved:

2020-04-06

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.

Because the loan received by Bois Forte Development Corp is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Bois Forte Development Corp in Tower, MN

Bois Forte Development Corp
1430 Bois Forte Rd
Tower, MN 55790

Business Industry

Casinos (except Casino Hotels) (NAICS code 713210)

Business Owner Demographics

Race / Ethnicity: AMERICAN INDIAN OR ALASKA NATIVE

Gender: FEMALE OWNED

Veteran Status: Unreported

Congressional 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.

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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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Source: www.federalpay.org/paycheck-protection-program/bois-forte-development-corp-tower-mn