PPP Loan Data — Hiller Precision Machining, Inc, Zimmerman, MN
Hiller Precision Machining, Inc
Entity: Subchapter S Corporation
Location: Zimmerman, MNTweet This • Search All PPP Data
Hiller Precision Machining, Inc is a subchapter s corporation located at 14756 289th Ave in Zimmerman, Minnesota that received a Coronavirus-related PPP loan from the SBA of $25,062.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Farmers State Bank of Hamel
Hiller Precision Machining, Inc in Zimmerman, MN received a Paycheck Protection Loan of $25,062 through Farmers State Bank of Hamel, 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 November, 2020.
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, Hiller Precision Machining, Inc's 2019 payroll expenses are estimated to be at least $120,298.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,099 per employee1
Reported PPP Proceed Usage:
On the PPP application, Hiller Precision Machining, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,062
Business Information - Hiller Precision Machining, Inc in Zimmerman, MN
14756 289th Ave
Zimmerman, MN 55398
All Other Miscellaneous General Purpose Machinery Manufacturing
NAICS code 333999
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 3,242 businesses in the "All Other Miscellaneous General Purpose Machinery Manufacturing" industry received a total of $641.64M 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 17 employees, 467% higher than Hiller Precision Machining, Inc's reported 3 employees, and received an average PPP loan of $197,915, 690% higher than this company's loan of $25,062.
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Footnotes & Information
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