PPP Loan Data — Johns Sand And Gravel Inc, Powers Lake, ND
Johns Sand And Gravel Inc is a corporation located at 8210 91st Ave Nw in Powers Lake, North Dakota that received a Coronavirus-related PPP loan from the SBA of $46,700.00 in January, 2021.
The company has reported itself as a White female owned business, and employed at least five people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Liberty State Bank
Johns Sand And Gravel Inc in Powers Lake, ND received a Paycheck Protection Loan of $46,700 through Liberty State Bank, which was approved in January, 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, Johns Sand And Gravel Inc's 2019 payroll expenses are estimated to be at least $224,160.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $44,832 per employee1
Reported PPP Proceed Usage:
On the PPP application, Johns Sand And Gravel Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,699
- Utilities: $1
Business Information - Johns Sand And Gravel Inc in Powers Lake, ND
8210 91st Ave Nw
Powers Lake, ND 58773
Construction Sand and Gravel Mining
NAICS code 212321
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Powers Lake
In the Powers Lake area, 2 businesses in the "Construction Sand and Gravel Mining" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 5) and received an average PPP loan of $46,700 (compared to this company's $46,700).
Similar Nearby Businesses Who Received PPP Funding:
John's Sand And Gravel
Powers Lake, ND
Industry PPP Comparison Statistics
Nationwide, 6,468 businesses in the "Construction Sand and Gravel Mining" industry received a total of $541.46M in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 7 employees, 40% higher than Johns Sand And Gravel Inc's reported 5 employees, and received an average PPP loan of $83,714, 79% higher than this company's loan of $46,700.
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Footnotes & Information
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