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PPP Loan Data — Delta Modtech Holdings LLC, Minneapolis, MN

SBA PPP loan data, payroll data, and salaries for Delta Modtech Holdings LLC
MN

Delta Modtech Holdings LLC

Entity: Limited Liability Company (LLC)

Industry: All Other Miscellaneous General Purpose Machinery Manufacturing

Location: Minneapolis, MN

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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 #6608737007

Loan Size:

$1.94M

Jobs Retained:

151

Loan Approved:

2020-04-07

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

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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

Delta Modtech Holdings LLC
11501 Eagle St Nw
Minneapolis, MN 55448

Business Owner Demographics

Race: White

Ethnicity: Not Hispanic or Latino

Gender: Female Owned

Veteran Status: Unreported

Business Demographics

Business Age: New Business or 2 years or less

LMI Zone: Y

HUBZone: N

Rural / Urban: Urban

Anoka County, MN — SBA Office 0508 — Congressional District: MN-03

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).

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.

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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

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Footnotes & Information

1. Estimations for informational purposes only. 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/delta-modtech-holdings-llc-minneapolis-mn