PPP Loan Data — L&M Radiator, Inc, Hibbing, MN
L&M Radiator, Inc is a corporation located at 1414 E 37th St in Hibbing, Minnesota that received a Coronavirus-related PPP loan from the SBA of $3,986,200.00 in April, 2020.
$ PPP Loan Information
Lender:FIRST NATIONAL BANK MINNESOTA
L&M Radiator, Inc received a Paycheck Protection Loan of $3.99M through FIRST NATIONAL BANK MINNESOTA, which was approved in April, 2020.
Based on standard PPP eligibility rules, L&M Radiator, Inc's total 2019 payroll expenses were approximately $19.13M in order to qualify for the PPP loan amount received.
Based on their reported 331 jobs retained, this equals an estimated average yearly compensation of $57,806 per employee1.
Business Information - L&M Radiator, Inc in Hibbing, MN
1414 E 37th St
Hibbing, MN 55746
All Other Miscellaneous Manufacturing (NAICS code 339999)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: MN-08
Industry PPP Comparison Statistics
Nationwide, 8,697 businesses in the "All Other Miscellaneous Manufacturing" industry received a total of $1,285,606,911.00 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 12 employees, 96% lower than L&M Radiator, Inc's reported 331 employees, and received an average PPP loan of $147,822, 96% lower than this company's loan of $3.99M.
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Footnotes & Information
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