PPP Loan Data — L&L Constructors Inc, Intl Falls, MN
L&L Constructors Inc is a corporation located at 4471 Hwy 11 in Intl Falls, Minnesota that received a Coronavirus-related PPP loan from the SBA of $24,845.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
L&L Constructors Inc in Intl Falls, MN received a Paycheck Protection Loan of $24,845 through TruStar FCU, which was approved in May, 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 May, 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, L&L Constructors Inc's 2019 payroll expenses are estimated to be at least $119,256.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $59,628 per employee1
Reported PPP Proceed Usage:
On the PPP application, L&L Constructors Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,845
Business Information - L&L Constructors Inc in Intl Falls, MN
4471 Hwy 11
Intl Falls, MN 56649
All Other Specialty Trade Contractors
NAICS code 238990
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 93,400 businesses in the "All Other Specialty Trade Contractors" industry received a total of $8.04B 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 8 employees, 300% higher than L&L Constructors Inc's reported 2 employees, and received an average PPP loan of $86,076, 246% higher than this company's loan of $24,845.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!