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PPP Loan Data — Doherty Staffing Solutions, Inc, Edina, MN

SBA PPP loan data, payroll data, and salaries for Doherty Staffing Solutions, Inc
MN

Doherty Staffing Solutions, Inc

Entity: Subchapter S Corporation

Industry: Professional Employer Organizations

Location: Edina, MN

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Doherty Staffing Solutions, Inc is a subchapter s corporation located at 7645 Metro Blvd in Edina, Minnesota that received a Coronavirus-related PPP loan from the SBA of $10,000,000.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$10M

Jobs Retained:

500

Loan Approved:

2020-04-28

Lender:

U.S. BANK, NATIONAL ASSOCIATION

Doherty Staffing Solutions, Inc in Edina, MN received a Paycheck Protection Loan of $10M through U.S. BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Doherty Staffing Solutions, Inc's total 2019 payroll expenses were approximately $48M in order to qualify for the PPP loan amount received.

Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $96,000 per employee1.

Because the loan received by Doherty Staffing Solutions, Inc 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 - Doherty Staffing Solutions, Inc in Edina, MN

Doherty Staffing Solutions, Inc
7645 Metro Blvd
Edina, MN 55439

Business Industry

Professional Employer Organizations (NAICS code 561330)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MN-03

Similar Companies near Edina

In the Edina area, 2 businesses in the "Professional Employer Organizations" industry received a PPP loan. These local businesses reported an average of 272 employees (compared to this company's 500) and received an average PPP loan of $5,403,850 (compared to this company's $10M).

Similar Nearby Businesses Who Received PPP Funding:

Orange Tree Employment Screening LLC
Minneapolis, MN

$807,700 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 1,298 businesses in the "Professional Employer Organizations" industry received a total of $544,321,819.00 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 38 employees, 92% lower than Doherty Staffing Solutions, Inc's reported 500 employees, and received an average PPP loan of $419,354, 96% lower than this company's loan of $10M.

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.

Search FederalPay's Full PPP Loan Database

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/doherty-staffing-solutions-inc-edina-mn