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PPP Loan Data — Knep Bros Inc, Minneapolis, MN

SBA PPP loan data, payroll data, and salaries for Knep Bros Inc
MN

Knep Bros Inc

Entity: Corporation

Industry: Food Service Contractors

Location: Minneapolis, MN

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Knep Bros Inc is a corporation located at 382 S Avenue, Mall Of America in Minneapolis, Minnesota that received a Coronavirus-related PPP loan from the SBA of $111,000.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$111,000

Jobs Retained:

50

Loan Approved:

2020-04-04

Lender:

CHARTER BANK

Knep Bros Inc received a Paycheck Protection Loan of $111,000 through CHARTER BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Knep Bros Inc's total 2019 payroll expenses were approximately $532,800 in order to qualify for the PPP loan amount received.

Based on their reported 50 jobs retained, this equals an estimated average yearly compensation of $10,656 per employee1.

Business Information - Knep Bros Inc in Minneapolis, MN

Knep Bros Inc
382 S Avenue, Mall Of America
Minneapolis, MN 55425

Business Industry

Food Service Contractors (NAICS code 722310)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MN-03

Similar Companies near Minneapolis

In the Minneapolis area, 2 businesses in the "Food Service Contractors" industry received a PPP loan. These local businesses reported an average of 25 employees (compared to this company's 50) and received an average PPP loan of $2,084,262 (compared to this company's $111,000).

Similar Nearby Businesses Who Received PPP Funding:

New Horizon Foods Inc
Minneapolis, MN

$4.06M PPP Loan

Industry PPP Comparison Statistics

Nationwide, 8,947 businesses in the "Food Service Contractors" industry received a total of $969,115,041.00 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 15 employees, 70% lower than Knep Bros Inc's reported 50 employees, and received an average PPP loan of $108,317, 2% lower than this company's loan of $111,000.

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. 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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/knep-bros-inc-minneapolis-mn