PPP Loan Data — Davidbenrud, Minneapolis, MN
Davidbenrud is a subchapter s corporation located at 4422 Thomas Ave S in Minneapolis, Minnesota that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Davidbenrud in Minneapolis, MN received a Paycheck Protection Loan of $25,000 through WebBank, which was approved in May, 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 June, 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, Davidbenrud's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Davidbenrud reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Davidbenrud in Minneapolis, MN
4422 Thomas Ave S
Minneapolis, MN 55410
Drive-In Motion Picture Theaters
NAICS code 512132
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, 218 businesses in the "Drive-In Motion Picture Theaters" industry received a total of $5.33M 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 9 employees, 200% higher than Davidbenrud's reported 3 employees, and received an average PPP loan of $24,454, 2% lower than this company's loan of $25,000.
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Footnotes & Information
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