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PPP Loan Data — Karl's TV & Appliance Inc,
Gregory, SD
Karl's TV & Appliance Inc
Entity: Corporation
Industry: Electronics Stores
Location: Gregory, SD
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Karl's TV & Appliance Inc is a corporation located at Po Box 148 in Gregory, South Dakota that received a Coronavirus-related PPP loan from the SBA of $3,000,000.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 365 people during the applicable loan loan period.
$ PPP Loan Information
Loan Size:
Jobs Retained:
365Loan Approved:
2020-04-07Lender:
BANKWEST, INCKarl's TV & Appliance Inc in Gregory, SD received a Paycheck Protection Loan of $3M through BANKWEST, INC, which was approved in April, 2020.
Based on standard PPP eligibility rules, Karl's TV & Appliance Inc's total 2019 payroll expenses were approximately $14.4M in order to qualify for the PPP loan amount received.
Based on their reported 365 jobs retained, this equals an estimated average yearly compensation of $39,452 per employee1.
Business Information - Karl's TV & Appliance Inc in Gregory, SD
Po Box 148
Gregory, SD 57533
Business Industry
Electronics Stores (NAICS code 443142)
Business Owner Demographics
Race / Ethnicity: WHITE
Gender: MALE OWNED
Veteran Status: NON-VETERAN
Congressional District: SD-Similar Companies near Gregory
In the Gregory area, 2 businesses in the "Electronics Stores" industry received a PPP loan. These local businesses reported an average of 189 employees (compared to this company's 365) and received an average PPP loan of $1,567,400 (compared to this company's $3M).
Similar Nearby Businesses Who Received PPP Funding:
Wind Circle Network
Fort Pierre, SD
Industry PPP Comparison Statistics
Nationwide, 7,570 businesses in the "Electronics Stores" industry received a total of $593,424,720.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.
PPP recipients in this industry report an average of 8 employees, 98% lower than Karl's TV & Appliance Inc's reported 365 employees, and received an average PPP loan of $78,392, 97% lower than this company's loan of $3M.
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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