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PPP Loan Data — Innovative AG Services Co, Monticello, IA

SBA PPP loan data, payroll data, and salaries for Innovative AG Services Co
IA

Innovative AG Services Co

Entity: Corporation

Industry: Regulation of Agricultural Marketing and Commodities

Location: Monticello, IA

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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

Loan Size:

$4.9M

Jobs Retained:

250

Loan Approved:

2020-04-06

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.

Because the loan received by Innovative AG Services Co 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 - Innovative AG Services Co in Monticello, IA

Innovative AG Services Co
2010 Main St
Monticello, IA 52310

Business Industry

Regulation of Agricultural Marketing and Commodities (NAICS code 926140)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional 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.

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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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/innovative-ag-services-co-monticello-ia