PPP Loan Data — Lipperttileplow LLC, Willmar, MN
Lipperttileplow LLC is a limited liability company (LLC) located at 900 13th Ave Sw in Willmar, Minnesota that received a Coronavirus-related PPP loan from the SBA of $25,490.00 in July, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bremer Bank, National Association
Lipperttileplow LLC in Willmar, MN received a Paycheck Protection Loan of $25,490 through Bremer Bank, National Association, which was approved in July, 2020.
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, Lipperttileplow LLC's 2019 payroll expenses are estimated to be at least $122,352.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $61,176 per employee1
Reported PPP Proceed Usage:
On the PPP application, Lipperttileplow LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,490
Business Information - Lipperttileplow LLC in Willmar, MN
900 13th Ave Sw
Willmar, MN 56201
Site Preparation Contractors
NAICS code 238910
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Willmar
In the Willmar area, 2 businesses in the "Site Preparation Contractors" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 2) and received an average PPP loan of $23,595 (compared to this company's $25,490).
Similar Nearby Businesses Who Received PPP Funding:
Lee Nelson Landscaping Inc
Industry PPP Comparison Statistics
Nationwide, 30,927 businesses in the "Site Preparation Contractors" industry received a total of $4.31B 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 12 employees, 500% higher than Lipperttileplow LLC's reported 2 employees, and received an average PPP loan of $139,293, 446% higher than this company's loan of $25,490.
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