PPP Loan Data — GBI Homes Inc, Chaska, MN
GBI Homes Inc
Location: Chaska, MNTweet This • Search All PPP Data
GBI Homes Inc is a corporation located at 112 E 5th St Ste 103 in Chaska, Minnesota that received a Coronavirus-related PPP loan from the SBA of $46,383.00 in January, 2021.
The company has reported itself as a White female owned business, and employed at least four people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Old National Bank
GBI Homes Inc in Chaska, MN received a Paycheck Protection Loan of $46,383 through Old National Bank, which was approved in January, 2021.
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, GBI Homes Inc's 2019 payroll expenses are estimated to be at least $222,638.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $55,660 per employee1
Reported PPP Proceed Usage:
On the PPP application, GBI Homes Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,382
Business Information - GBI Homes Inc in Chaska, MN
112 E 5th St Ste 103
Chaska, MN 55318
New Single-Family Housing Construction (except For-Sale Builders)
NAICS code 236115
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Chaska
In the Chaska area, 15 businesses in the "New Single-Family Housing Construction (except For-Sale Builders)" industry received a PPP loan. These local businesses reported an average of 7 employees (compared to this company's 4) and received an average PPP loan of $73,250 (compared to this company's $46,383).
Similar Nearby Businesses Who Received PPP Funding:
Loomis Homes LLC
NTC Homes, Inc
Cyclone Construction LLC
Clear Lake, MN
Gestach & Paulson Construction, Inc
Iron River Construction, LLC
North Elevation LLC
DDK Construction Inc
Industry PPP Comparison Statistics
Nationwide, 127,156 businesses in the "New Single-Family Housing Construction (except For-Sale Builders)" industry received a total of $5.75B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 5 employees, 25% higher than GBI Homes Inc's reported 4 employees, and received an average PPP loan of $45,182, 3% lower than this company's loan of $46,383.
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