PPP Loan Data — Holdvogt Bros Partnership, Melrose, MN
Holdvogt Bros Partnership is a partnership located at 33955 315th Ave in Melrose, Minnesota that received a Coronavirus-related PPP loan from the SBA of $25,150.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least four people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Freeport State Bank
Holdvogt Bros Partnership in Melrose, MN received a Paycheck Protection Loan of $25,150 through Freeport State 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 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, Holdvogt Bros Partnership's 2019 payroll expenses are estimated to be at least $120,720.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,180 per employee1
Reported PPP Proceed Usage:
On the PPP application, Holdvogt Bros Partnership reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $20,150
- Utilities: $3,000
- Mortgage Interest: $2,000
Business Information - Holdvogt Bros Partnership in Melrose, MN
33955 315th Ave
Melrose, MN 56352
Dairy Cattle and Milk Production
NAICS code 112120
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Melrose
In the Melrose area, 86 businesses in the "Dairy Cattle and Milk Production" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 4) and received an average PPP loan of $22,936 (compared to this company's $25,150).
Similar Nearby Businesses Who Received PPP Funding:
Hellermann Dairy Inc
Three D. Dairy
Trista M Roelike
Industry PPP Comparison Statistics
Nationwide, 24,315 businesses in the "Dairy Cattle and Milk Production" industry received a total of $1.23B 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 6 employees, 50% higher than Holdvogt Bros Partnership's reported 4 employees, and received an average PPP loan of $50,558, 101% higher than this company's loan of $25,150.
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Footnotes & Information
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