PPP Loan Data — Gjere Construction Inc, Mabel, MN
Gjere Construction Inc
Location: Mabel, MNTweet This • Search All PPP Data
Gjere Construction Inc is a corporation located at 43506 State Hwy 44 in Mabel, Minnesota that received a Coronavirus-related PPP loan from the SBA of $46,091.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least nine people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:First Southeast Bank
Gjere Construction Inc in Mabel, MN received a Paycheck Protection Loan of $46,091 through First Southeast 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 March, 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, Gjere Construction Inc's 2019 payroll expenses are estimated to be at least $221,237.
Based on their reported 9 jobs retained, this equals an estimated average yearly compensation of $24,582 per employee1
Reported PPP Proceed Usage:
On the PPP application, Gjere Construction Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,091
Business Information - Gjere Construction Inc in Mabel, MN
43506 State Hwy 44
Mabel, MN 55954
Poured Concrete Foundation and Structure Contractors
NAICS code 238110
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Rural
Similar Companies near Mabel
In the Mabel area, 2 businesses in the "Poured Concrete Foundation and Structure Contractors" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 9) and received an average PPP loan of $26,546 (compared to this company's $46,091).
Similar Nearby Businesses Who Received PPP Funding:
Industry PPP Comparison Statistics
Nationwide, 21,801 businesses in the "Poured Concrete Foundation and Structure Contractors" industry received a total of $3.02B 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 13 employees, 44% higher than Gjere Construction Inc's reported 9 employees, and received an average PPP loan of $138,620, 201% higher than this company's loan of $46,091.
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Footnotes & Information
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