PPP Loan Data — Delta Modtech Holdings LLC, Minneapolis, MN
Delta Modtech Holdings LLC
Entity: Limited Liability Company (LLC)
Location: Minneapolis, MNTweet This • Search All PPP Data
Delta Modtech Holdings LLC is a limited liability company (LLC) located at 11501 Eagle St Nw in Minneapolis, Minnesota that received a Coronavirus-related PPP loan from the SBA of $1,941,600.00 in April, 2020.
The company has reported itself as a White female owned business, and employed at least 151 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:First Bank Elk River
Delta Modtech Holdings LLC in Minneapolis, MN received a Paycheck Protection Loan of $1.94M through First Bank Elk River, 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 May, 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, Delta Modtech Holdings LLC's 2019 payroll expenses are estimated to be at least $9.32M.
Based on their reported 151 jobs retained, this equals an estimated average yearly compensation of $61,720 per employee1
Reported PPP Proceed Usage:
On the PPP application, Delta Modtech Holdings LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,941,600
Business Information - Delta Modtech Holdings LLC in Minneapolis, MN
11501 Eagle St Nw
Minneapolis, MN 55448
All Other Miscellaneous General Purpose Machinery Manufacturing
NAICS code 333999
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Minneapolis
In the Minneapolis area, 3 businesses in the "All Other Miscellaneous General Purpose Machinery Manufacturing" industry received a PPP loan. These local businesses reported an average of 67 employees (compared to this company's 151) and received an average PPP loan of $846,537 (compared to this company's $1.94M).
Similar Nearby Businesses Who Received PPP Funding:
Industrial Automation Products, Inc
Power Engineering & Manufacturing Inc
Industry PPP Comparison Statistics
Nationwide, 3,242 businesses in the "All Other Miscellaneous General Purpose Machinery Manufacturing" industry received a total of $641.64M 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 17 employees, 89% lower than Delta Modtech Holdings LLC's reported 151 employees, and received an average PPP loan of $197,915, 90% lower than this company's loan of $1.94M.
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Footnotes & Information
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