PPP Loan Data — J. Desmarais Construction, Inc, Monticello, MN
J. Desmarais Construction, Inc is a corporation located at 7455 Davidson Ave Ne in Monticello, Minnesota that received a Coronavirus-related PPP loan from the SBA of $25,300.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least seven people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:CorTrust Bank National Association
J. Desmarais Construction, Inc in Monticello, MN received a Paycheck Protection Loan of $25,300 through CorTrust Bank National Association, 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 February, 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, J. Desmarais Construction, Inc's 2019 payroll expenses are estimated to be at least $121,440.
Based on their reported 7 jobs retained, this equals an estimated average yearly compensation of $17,349 per employee1
Reported PPP Proceed Usage:
On the PPP application, J. Desmarais Construction, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,300
Business Information - J. Desmarais Construction, Inc in Monticello, MN
7455 Davidson Ave Ne
Monticello, MN 55362
NAICS code 236118
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Monticello
In the Monticello area, 14 businesses in the "Residential Remodelers" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 7) and received an average PPP loan of $18,349 (compared to this company's $25,300).
Similar Nearby Businesses Who Received PPP Funding:
A2Z Exteriors LLC
Driven Construction And Remodeling LLC
Nelstonian Enterprises LLC
Forster Drywall Inc
Randy Hellman Construction LLC
JB Home Improvers Inc
C2 Builders LLC
Industry PPP Comparison Statistics
Nationwide, 175,017 businesses in the "Residential Remodelers" industry received a total of $5.32B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 3 employees, 57% lower than J. Desmarais Construction, Inc's reported 7 employees, and received an average PPP loan of $30,405, 20% higher than this company's loan of $25,300.
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Footnotes & Information
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