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PPP Loan Data — Insulation Distributors, Inc.,
Chanhassen, MN
Insulation Distributors, Inc.
Entity: Subchapter S Corporation
Industry: Roofing, Siding, and Insulation Material Merchant Wholesalers
Location: Chanhassen, MN
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Insulation Distributors, Inc. is a subchapter s corporation located at 8303 Audubon Road in Chanhassen, Minnesota that received a Coronavirus-related PPP loan from the SBA of $6,591,000.00 in April, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
425Loan Approved:
2020-04-08Lender:
BMO HARRIS BANK NATIONAL ASSOCIATIONInsulation Distributors, Inc. in Chanhassen, MN received a Paycheck Protection Loan of $6.59M through BMO HARRIS BANK NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Insulation Distributors, Inc.'s total 2019 payroll expenses were approximately $31.64M in order to qualify for the PPP loan amount received.
Based on their reported 425 jobs retained, this equals an estimated average yearly compensation of $74,440 per employee1.
Business Information - Insulation Distributors, Inc. in Chanhassen, MN
8303 Audubon Road
Chanhassen, MN 55317
Business Industry
Roofing, Siding, and Insulation Material Merchant Wholesalers (NAICS code 423330)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: MN-03Similar Companies near Chanhassen
In the Chanhassen area, 2 businesses in the "Roofing, Siding, and Insulation Material Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 218 employees (compared to this company's 425) and received an average PPP loan of $3,379,400 (compared to this company's $6.59M).
Similar Nearby Businesses Who Received PPP Funding:
Edwards Sales Corporation And
Chaska, MN
Industry PPP Comparison Statistics
Nationwide, 828 businesses in the "Roofing, Siding, and Insulation Material Merchant Wholesalers" industry received a total of $184,583,791.00 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 16 employees, 96% lower than Insulation Distributors, Inc.'s reported 425 employees, and received an average PPP loan of $222,927, 97% lower than this company's loan of $6.59M.
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.
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