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PPP Loan Data — Knute Nelson, Alexandria, MN

SBA PPP loan data, payroll data, and salaries for Knute Nelson
MN Nonprofit Organization

Knute Nelson

Entity: Non-profit Organization

Industry: Continuing Care Retirement Communities

Location: Alexandria, MN

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Knute Nelson is a non-profit organization located at 420 12th Ave in Alexandria, Minnesota that received a Coronavirus-related PPP loan from the SBA of $4,618,200.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$4.62M

Jobs Retained:

500

Loan Approved:

2020-04-09

Lender:

BREMER BANK, NATIONAL ASSOCIATION

Knute Nelson received a Paycheck Protection Loan of $4.62M through BREMER BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Knute Nelson's total 2019 payroll expenses were approximately $22.17M in order to qualify for the PPP loan amount received.

Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $44,335 per employee1.

Because the loan received by Knute Nelson is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Knute Nelson in Alexandria, MN

Knute Nelson
420 12th Ave
Alexandria, MN 56308

Business Industry

Continuing Care Retirement Communities (NAICS code 623311)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MN-07

Similar Companies near Alexandria

In the Alexandria area, 2 businesses in the "Continuing Care Retirement Communities" industry received a PPP loan. These local businesses reported an average of 347 employees (compared to this company's 500) and received an average PPP loan of $2,872,322 (compared to this company's $4.62M).

Similar Nearby Businesses Who Received PPP Funding:

Mother Of Mercy
Albany, MN

$1.13M PPP Loan

Industry PPP Comparison Statistics

Nationwide, 2,172 businesses in the "Continuing Care Retirement Communities" industry received a total of $1,251,764,538.00 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 69 employees, 86% lower than Knute Nelson's reported 500 employees, and received an average PPP loan of $576,319, 88% lower than this company's loan of $4.62M.

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.

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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/knute-nelson-alexandria-mn