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PPP Loan Data — Karen Young, Plymouth, MN

SBA PPP loan data, payroll data, and salaries for Karen Young
MN

Karen Young

Entity: Sole Proprietorship

Industry: All Other Miscellaneous Store Retailers (except Tobacco Stores)

Location: Plymouth, MN

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Karen Young is a sole proprietorship located in Plymouth, Minnesota that received a Coronavirus-related PPP loan from the SBA of $1,380.00 in March, 2021.

The company has reported itself as a White female owned business, and employed at least one person during the applicable loan loan period.

$ PPP Loan Information
Loan #7872598601

Loan Size:

$1,380

Jobs Retained:

1

Loan Approved:

2021-03-24

Loan Status:

Ongoing Loan

Lender:

U.S. Bank, National Association

Karen Young in Plymouth, MN received a Paycheck Protection Loan of $1,380 through U.S. Bank, National Association, which was approved in March, 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.


PPP Calculation Note: The total PPP loan an eligible business or individual can receive is based on 2.5 times their average monthly 2019 payroll expenses, capped at $100,000 annually per employee.

Reported PPP Proceed Usage:

On the PPP application, Karen Young reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,380

Business Information - Karen Young in Plymouth, MN

Karen Young
Plymouth, MN
* Full address is redacted to protect the privacy of individuals.

Business Owner Demographics

Race: White

Ethnicity: Not Hispanic or Latino

Gender: Female Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Hennepin County, MN — SBA Office 0508 — Congressional District: MN-03

Similar Companies near Plymouth

In the Plymouth area, 11 businesses in the "All Other Miscellaneous Store Retailers (except Tobacco Stores)" industry received a PPP loan. These local businesses reported an average of 54 employees (compared to this company's 1) and received an average PPP loan of $1,026,099 (compared to this company's $1,380).

Industry PPP Comparison Statistics

Nationwide, 153,732 businesses in the "All Other Miscellaneous Store Retailers (except Tobacco Stores)" industry received a total of $5.26B 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 4 employees, 300% higher than Karen Young's reported 1 employees, and received an average PPP loan of $34,215, 2379% higher than this company's loan of $1,380.

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/karen-young-plymouth-mn