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PPP Loan Data — L&M Radiator, Inc,
Hibbing, MN
L&M Radiator, Inc
Entity: Corporation
Industry: All Other Miscellaneous Manufacturing
Location: Hibbing, MN
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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
Loan Size:
Jobs Retained:
331Loan Approved:
2020-04-13Lender:
FIRST NATIONAL BANK MINNESOTAL&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
Business Industry
All Other Miscellaneous Manufacturing (NAICS code 339999)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: MN-08Industry 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.
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.
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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