PPP Loan Data — Don Borneke Construction, Inc, Janesville, MN
Don Borneke Construction, Inc is a subchapter s corporation located at 41537 50th St in Janesville, Minnesota that received a Coronavirus-related PPP loan from the SBA of $2,354,020.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 68 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:The First National Bank of Le Center
Don Borneke Construction, Inc in Janesville, MN received a Paycheck Protection Loan of $2.35M through The First National Bank of Le Center, which was approved in April, 2020.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 113. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
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, Don Borneke Construction, Inc's 2019 payroll expenses are estimated to be at least $11.3M (not accounting for salary amounts > $100k).
Because the 68 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Reported PPP Proceed Usage:
On the PPP application, Don Borneke Construction, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,354,020
Business Information - Don Borneke Construction, Inc in Janesville, MN
41537 50th St
Janesville, MN 56048
Highway, Street, and Bridge Construction
NAICS code 237310
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 11,483 businesses in the "Highway, Street, and Bridge Construction" industry received a total of $3.92B 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 26 employees, 62% lower than Don Borneke Construction, Inc's reported 68 employees, and received an average PPP loan of $341,702, 85% lower than this company's loan of $2.35M.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
Have FederalPay.org's open data tools been valuable? Consider donating!