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PPP Loan Data — Johns Sand And Gravel Inc, Powers Lake, ND

SBA PPP loan data, payroll data, and salaries for Johns Sand And Gravel Inc
ND

Johns Sand And Gravel Inc

Entity: Corporation

Industry: Construction Sand and Gravel Mining

Location: Powers Lake, ND

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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 #6234058310

Loan Size:

$46,700

Jobs Retained:

5

Loan Approved:

2021-01-26

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.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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

Johns Sand And Gravel Inc
8210 91st Ave Nw
Powers Lake, ND 58773

Business Industry:
Construction Sand and Gravel Mining
NAICS code 212321

Business Owner Demographics

Race: White

Ethnicity: Not Hispanic or Latino

Gender: Female Owned

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: Y

Rural / Urban: Rural

Burke County, ND — SBA Office 0875 — Congressional District: ND-

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

$46,700 PPP Loan

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.

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. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

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Footnotes & Information

1. Estimations for informational purposes only. 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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Source: www.federalpay.org/paycheck-protection-program/johns-sand-and-gravel-inc-powers-lake-nd