PPP Loan Data — Klint Hartsoch, Ray, ND
Klint Hartsoch is a sole proprietorship located at 10783 53rd St Nw in Ray, North Dakota that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in January, 2021.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Farm Credit Services of North Dakota, ACA
Klint Hartsoch in Ray, ND received a Paycheck Protection Loan of $25,000 through Farm Credit Services of North Dakota, ACA, 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
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, Klint Hartsoch's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Klint Hartsoch reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Klint Hartsoch in Ray, ND
10783 53rd St Nw
Ray, ND 58849
Oilseed and Grain Combination Farming
NAICS code 111191
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Ray
In the Ray area, 7 businesses in the "Oilseed and Grain Combination Farming" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 2) and received an average PPP loan of $27,470 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Champion Farms Inc
Sheldon Family Farm LLC
Industry PPP Comparison Statistics
Nationwide, 32,716 businesses in the "Oilseed and Grain Combination Farming" industry received a total of $644.3M 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 2 employees, the same amount reported by Klint Hartsoch and received an average PPP loan of $19,694, 21% lower than this company's loan of $25,000.
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Footnotes & Information
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