PPP Loan Data — Little Learners LLC, Ada, MN
Little Learners LLC is a limited liability company (LLC) located at 201 9th St W Ste 3 in Ada, Minnesota that received a Coronavirus-related PPP loan from the SBA of $25,119.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Frandsen Bank & Trust
Little Learners LLC in Ada, MN received a Paycheck Protection Loan of $25,119 through Frandsen Bank & Trust, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in April, 2021.
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, Little Learners LLC's 2019 payroll expenses are estimated to be at least $120,571.
Based on their reported 13 jobs retained, this equals an estimated average yearly compensation of $9,275 per employee1
Reported PPP Proceed Usage:
On the PPP application, Little Learners LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,119
Business Information - Little Learners LLC in Ada, MN
201 9th St W Ste 3
Ada, MN 56510
Child Day Care Services
NAICS code 624410
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Ada
In the Ada area, 5 businesses in the "Child Day Care Services" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 13) and received an average PPP loan of $9,313 (compared to this company's $25,119).
Similar Nearby Businesses Who Received PPP Funding:
Kinzi L Tracy
Valarie J Dahlsad
Industry PPP Comparison Statistics
Nationwide, 132,794 businesses in the "Child Day Care Services" industry received a total of $5.53B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 8 employees, 38% lower than Little Learners LLC's reported 13 employees, and received an average PPP loan of $41,676, 66% higher than this company's loan of $25,119.
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Footnotes & Information
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