PPP Loan Data — LAN Tran Inc, Minneapolis, MN
LAN Tran Inc is a subchapter s corporation located at 3505 Vicksburg Ln N in Minneapolis, Minnesota that received a Coronavirus-related PPP loan from the SBA of $25,098.00 in June, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:U.S. Bank, National Association
LAN Tran Inc in Minneapolis, MN received a Paycheck Protection Loan of $25,098 through U.S. Bank, National Association, which was approved in June, 2020.
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, LAN Tran Inc's 2019 payroll expenses are estimated to be at least $120,470.
Based on their reported 7 jobs retained, this equals an estimated average yearly compensation of $17,210 per employee1
Reported PPP Proceed Usage:
On the PPP application, LAN Tran Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,098
Business Information - LAN Tran Inc in Minneapolis, MN
3505 Vicksburg Ln N
Minneapolis, MN 55447
NAICS code 812113
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Minneapolis
In the Minneapolis area, 13 businesses in the "Nail Salons" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 7) and received an average PPP loan of $18,027 (compared to this company's $25,098).
Similar Nearby Businesses Who Received PPP Funding:
Rosa Cao Inc
Hoang Tuyen Inc
Coon Rapids, MN
Hoang Tuyen, Inc
Coon Rapids, MN
Turbo Nails Of Plymouth LLC
LAN Tran Inc
Vick's Nails Lounge Inc
Industry PPP Comparison Statistics
Nationwide, 111,177 businesses in the "Nail Salons" industry received a total of $1.68B 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 3 employees, 57% lower than LAN Tran Inc's reported 7 employees, and received an average PPP loan of $15,074, 40% lower than this company's loan of $25,098.
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