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PPP Loan Data — Halcon Corp, Stewartville, MN

SBA PPP loan data, payroll data, and salaries for Halcon Corp
MN

Halcon Corp

Entity: Corporation

Industry: Other Millwork (including Flooring)

Location: Stewartville, MN

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Halcon Corp is a corporation located at 1181 2nd Ave in Stewartville, Minnesota that received a Coronavirus-related PPP loan from the SBA of $3,819,000.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.82M

Jobs Retained:

371

Loan Approved:

2020-04-09

Lender:

MINNWEST BANK

Halcon Corp in Stewartville, MN received a Paycheck Protection Loan of $3.82M through MINNWEST BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Halcon Corp's total 2019 payroll expenses were approximately $18.33M in order to qualify for the PPP loan amount received.

Based on their reported 371 jobs retained, this equals an estimated average yearly compensation of $49,410 per employee1.

Because the loan received by Halcon Corp is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Halcon Corp in Stewartville, MN

Halcon Corp
1181 2nd Ave
Stewartville, MN 55976

Business Industry

Other Millwork (including Flooring) (NAICS code 321918)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MN-01

Industry PPP Comparison Statistics

Nationwide, 1,422 businesses in the "Other Millwork (including Flooring)" industry received a total of $215,920,934.00 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, 96% lower than Halcon Corp's reported 371 employees, and received an average PPP loan of $151,843, 96% lower than this company's loan of $3.82M.

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, and is published unmodified, as provided by the SBA.

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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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Source: www.federalpay.org/paycheck-protection-program/halcon-corp-stewartville-mn