PPP Loan Data — Elliot Advertising Group, Inc, Saint Paul, MN
Elliot Advertising Group, Inc is a subchapter s corporation located at 1044 Centerville Cir in Saint Paul, Minnesota that received a Coronavirus-related PPP loan from the SBA of $46,100.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least three people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Hiawatha National Bank
Elliot Advertising Group, Inc in Saint Paul, MN received a Paycheck Protection Loan of $46,100 through Hiawatha National Bank, 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 December, 2020.
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, Elliot Advertising Group, Inc's 2019 payroll expenses are estimated to be at least $221,280.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $73,760 per employee1
Reported PPP Proceed Usage:
On the PPP application, Elliot Advertising Group, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,100
Business Information - Elliot Advertising Group, Inc in Saint Paul, MN
1044 Centerville Cir
Saint Paul, MN 55127
Direct Mail Advertising
NAICS code 541860
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 1,974 businesses in the "Direct Mail Advertising" industry received a total of $242.52M 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 12 employees, 300% higher than Elliot Advertising Group, Inc's reported 3 employees, and received an average PPP loan of $122,859, 167% higher than this company's loan of $46,100.
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Footnotes & Information
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