PPP Loan Data — Johnstech International Corp, Minneapolis, MN
Johnstech International Corp is a corporation located at 1210 New Brighton Blvd in Minneapolis, Minnesota that received a Coronavirus-related PPP loan from the SBA of $1,512,750.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Johnstech International Corp in Minneapolis, MN received a Paycheck Protection Loan of $1.51M through Vibrant CU, 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 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, Johnstech International Corp's 2019 payroll expenses are estimated to be at least $7.26M.
Based on their reported 93 jobs retained, this equals an estimated average yearly compensation of $78,077 per employee1
Reported PPP Proceed Usage:
On the PPP application, Johnstech International Corp reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,512,750
Business Information - Johnstech International Corp in Minneapolis, MN
1210 New Brighton Blvd
Minneapolis, MN 55413
Other Communications Equipment Manufacturing
NAICS code 334290
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 761 businesses in the "Other Communications Equipment Manufacturing" industry received a total of $205.89M 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 21 employees, 77% lower than Johnstech International Corp's reported 93 employees, and received an average PPP loan of $270,551, 82% lower than this company's loan of $1.51M.
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Footnotes & Information
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