PPP Loan Data — Esop-Metro Sales, Inc., Minneapolis, MN
Esop-Metro Sales, Inc. is an employee stock ownership plan (esop) located at 1620 East 78th St in Minneapolis, Minnesota that received a Coronavirus-related PPP loan from the SBA of $4,551,800.00 in April, 2020.
$ PPP Loan Information
Lender:FIRST INTERNATIONAL BANK & TRUST
Esop-Metro Sales, Inc. received a Paycheck Protection Loan of $4.55M through FIRST INTERNATIONAL BANK & TRUST, which was approved in April, 2020.
Based on standard PPP eligibility rules, Esop-Metro Sales, Inc.'s total 2019 payroll expenses were approximately $21.85M in order to qualify for the PPP loan amount received.
Based on their reported 262 jobs retained, this equals an estimated average yearly compensation of $83,392 per employee1.
Business Information - Esop-Metro Sales, Inc. in Minneapolis, MN
1620 East 78th St
Minneapolis, MN 55423
Office Machinery and Equipment Rental and Leasing (NAICS code 532420)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: MN-05
Industry PPP Comparison Statistics
Nationwide, 767 businesses in the "Office Machinery and Equipment Rental and Leasing" industry received a total of $145,896,756.00 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 14 employees, 95% lower than Esop-Metro Sales, Inc.'s reported 262 employees, and received an average PPP loan of $190,217, 96% lower than this company's loan of $4.55M.
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.
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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