PPP Loan Data — Juut Holdings, Inc., Minneapolis, MN
Juut Holdings, Inc. is a corporation located at 310 Groveland Ave in Minneapolis, Minnesota that received a Coronavirus-related PPP loan from the SBA of $4,500,000.00 in April, 2020.
$ PPP Loan Information
Lender:HIAWATHA NATIONAL BANK
Juut Holdings, Inc. in Minneapolis, MN received a Paycheck Protection Loan of $4.5M through HIAWATHA NATIONAL BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Juut Holdings, Inc.'s total 2019 payroll expenses were approximately $21.6M in order to qualify for the PPP loan amount received.
Based on their reported 423 jobs retained, this equals an estimated average yearly compensation of $51,064 per employee1.
Business Information - Juut Holdings, Inc. in Minneapolis, MN
310 Groveland Ave
Minneapolis, MN 55403
Beauty Salons (NAICS code 812112)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: MN-05
Similar Companies near Minneapolis
In the Minneapolis area, 17 businesses in the "Beauty Salons" industry received a PPP loan. These local businesses reported an average of 27 employees (compared to this company's 423) and received an average PPP loan of $286,134 (compared to this company's $4.5M).
Similar Nearby Businesses Who Received PPP Funding:
Sheryl A. Sikora Inc.
Katie M. Imp
Allen Ray Corp
Lisa Hansen - Hair Stylist
Nafisas Studio Inc
Jaime Leigh Beauty And Aesthetics LLC
Sanctuary Salonspa -Metro, LLC
Industry PPP Comparison Statistics
Nationwide, 93,531 businesses in the "Beauty Salons" industry received a total of $2,199,660,018.00 in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 0% of the total PPP funding allocated.
PPP recipients in this industry report an average of 3 employees, 99% lower than Juut Holdings, Inc.'s reported 423 employees, and received an average PPP loan of $23,518, 99% lower than this company's loan of $4.5M.
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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