PPP Loan Data — Innovative Office Solutions, LLC, Burnsville, MN
Innovative Office Solutions, LLC is a partnership located at 151 Cliff Road East in Burnsville, Minnesota that received a Coronavirus-related PPP loan from the SBA of $3,749,500.00 in April, 2020.
$ PPP Loan Information
Lender:NATIONAL BANK OF COMMERCE
Innovative Office Solutions, LLC received a Paycheck Protection Loan of $3.75M through NATIONAL BANK OF COMMERCE, which was approved in April, 2020.
Based on standard PPP eligibility rules, Innovative Office Solutions, LLC's total 2019 payroll expenses were approximately $18M in order to qualify for the PPP loan amount received.
Based on their reported 266 jobs retained, this equals an estimated average yearly compensation of $67,660 per employee1.
Business Information - Innovative Office Solutions, LLC in Burnsville, MN
151 Cliff Road East
Burnsville, MN 55337
Other Direct Selling Establishments (NAICS code 454390)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: MN-02
Similar Companies near Burnsville
In the Burnsville area, 7 businesses in the "Other Direct Selling Establishments" industry received a PPP loan. These local businesses reported an average of 46 employees (compared to this company's 266) and received an average PPP loan of $607,080 (compared to this company's $3.75M).
Similar Nearby Businesses Who Received PPP Funding:
First Aid Service, Inc.
Razors Edge Systems, LLC
Girard's Business Solutions, Inc.
AJ Management Company, LLC
Let's Dish Inc.
Green Isle, MN
Industry PPP Comparison Statistics
Nationwide, 11,977 businesses in the "Other Direct Selling Establishments" industry received a total of $632,841,121.00 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 5 employees, 98% lower than Innovative Office Solutions, LLC's reported 266 employees, and received an average PPP loan of $52,838, 99% lower than this company's loan of $3.75M.
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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) 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.
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