PPP Loan Data — Estates At St Louis Park, LLC, St Louis Park, MN
Estates At St Louis Park, LLC
Entity: Limited Liability Company (LLC)
Location: St Louis Park, MNTweet This • Search All PPP Data
Estates At St Louis Park, LLC is a limited liability company (LLC) located at 3201 Virginia Ave S in St Louis Park, Minnesota that received a Coronavirus-related PPP loan from the SBA of $1,769,957.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Celtic Bank Corporation
Estates At St Louis Park, LLC in St Louis Park, MN received a Paycheck Protection Loan of $1.77M through Celtic Bank Corporation, 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.
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, Estates At St Louis Park, LLC's 2019 payroll expenses are estimated to be at least $8.5M.
Based on their reported 213 jobs retained, this equals an estimated average yearly compensation of $39,886 per employee1
Reported PPP Proceed Usage:
On the PPP application, Estates At St Louis Park, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,769,957
Business Information - Estates At St Louis Park, LLC in St Louis Park, MN
3201 Virginia Ave S
St Louis Park, MN 55426
Nursing Care Facilities (Skilled Nursing Facilities)
NAICS code 623110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near St Louis Park
In the St Louis Park area, 5 businesses in the "Nursing Care Facilities (Skilled Nursing Facilities)" industry received a PPP loan. These local businesses reported an average of 116 employees (compared to this company's 213) and received an average PPP loan of $1,099,786 (compared to this company's $1.77M).
Similar Nearby Businesses Who Received PPP Funding:
Sholom Home West Inc
St Louis Park, MN
Golden Valley Opco, LLC
Golden Valley, MN
St Louis Park Opco, LLC
St Louis Park, MN
Industry PPP Comparison Statistics
Nationwide, 15,360 businesses in the "Nursing Care Facilities (Skilled Nursing Facilities)" industry received a total of $6.8B 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 60 employees, 72% lower than Estates At St Louis Park, LLC's reported 213 employees, and received an average PPP loan of $442,944, 75% lower than this company's loan of $1.77M.
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Footnotes & Information
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