PPP Loan Data — Innovative AG Services Co, Monticello, IA
Innovative AG Services Co
Location: Monticello, IATweet This • Search All PPP Data
Innovative AG Services Co is a corporation located at 2010 Main St in Monticello, Iowa that received a Coronavirus-related PPP loan from the SBA of $4,900,000.00 in April, 2020.
$ PPP Loan Information
Lender:FIRST CITIZENS BANK
Innovative AG Services Co in Monticello, IA received a Paycheck Protection Loan of $4.9M through FIRST CITIZENS BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Innovative AG Services Co's total 2019 payroll expenses were approximately $23.52M in order to qualify for the PPP loan amount received.
Based on their reported 250 jobs retained, this equals an estimated average yearly compensation of $94,080 per employee1.
Business Information - Innovative AG Services Co in Monticello, IA
2010 Main St
Monticello, IA 52310
Regulation of Agricultural Marketing and Commodities (NAICS code 926140)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: IA-01
Industry PPP Comparison Statistics
Nationwide, 278 businesses in the "Regulation of Agricultural Marketing and Commodities" industry received a total of $50,415,518.00 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 20 employees, 92% lower than Innovative AG Services Co's reported 250 employees, and received an average PPP loan of $181,351, 96% lower than this company's loan of $4.9M.
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.
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.
Have FederalPay.org's open data tools been valuable? Consider donating!