PPP Loan Data — Eagle One Welding Solutions, Watford City, ND
Eagle One Welding Solutions
Entity: Limited Liability Company (LLC)
Industry: Commercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and Maintenance
Location: Watford City, NDTweet This • Search All PPP Data
Eagle One Welding Solutions is a limited liability company (LLC) located in Watford City, North Dakota that received a Coronavirus-related PPP loan from the SBA of $24,846.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Wells Fargo Bank, National Association
Eagle One Welding Solutions in Watford City, ND received a Paycheck Protection Loan of $24,846 through Wells Fargo Bank, National Association, which was approved in May, 2020.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 1 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 1. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
Reported PPP Proceed Usage:
On the PPP application, Eagle One Welding Solutions reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,846
Business Information - Eagle One Welding Solutions in Watford City, ND
Watford City, ND
* Full address is redacted to protect the privacy of individuals.
Commercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and Maintenance
NAICS code 811310
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Watford City
In the Watford City area, 3 businesses in the "Commercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and Maintenance" industry received a PPP loan. These local businesses reported an average of 11 employees (compared to this company's 1) and received an average PPP loan of $228,582 (compared to this company's $24,846).
Similar Nearby Businesses Who Received PPP Funding:
Magnus Services LLC
Watford City, ND
Heggen Equipment Inc
Watford City, ND
Industry PPP Comparison Statistics
Nationwide, 22,310 businesses in the "Commercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and Maintenance" industry received a total of $2.27B 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, 800% higher than Eagle One Welding Solutions' reported 1 employees, and received an average PPP loan of $101,583, 309% higher than this company's loan of $24,846.
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.
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