PPP Loan Data — Huso Crop Consulting LLC, Lakota, ND
Huso Crop Consulting LLC is a limited liability company (LLC) located at 101 2nd St W in Lakota, North Dakota that received a Coronavirus-related PPP loan from the SBA of $47,000.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least eight people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:First United Bank
Huso Crop Consulting LLC in Lakota, ND received a Paycheck Protection Loan of $47,000 through First United 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 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, Huso Crop Consulting LLC's 2019 payroll expenses are estimated to be at least $225,600.
Based on their reported 8 jobs retained, this equals an estimated average yearly compensation of $28,200 per employee1
Reported PPP Proceed Usage:
On the PPP application, Huso Crop Consulting LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $47,000
Business Information - Huso Crop Consulting LLC in Lakota, ND
101 2nd St W
Lakota, ND 58344
Soil Preparation, Planting, and Cultivating
NAICS code 115112
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 Lakota
In the Lakota area, 2 businesses in the "Soil Preparation, Planting, and Cultivating" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 8) and received an average PPP loan of $27,567 (compared to this company's $47,000).
Similar Nearby Businesses Who Received PPP Funding:
Industry PPP Comparison Statistics
Nationwide, 4,557 businesses in the "Soil Preparation, Planting, and Cultivating" industry received a total of $269.26M 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 7 employees, 13% lower than Huso Crop Consulting LLC's reported 8 employees, and received an average PPP loan of $59,086, 26% higher than this company's loan of $47,000.
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Footnotes & Information
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