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PPP Loan Data — LW Survey Co,
Duluth, MN
LW Survey Co
Entity: Subchapter S Corporation
Industry: Surveying and Mapping (except Geophysical) Services
Location: Duluth, MN
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LW Survey Co is a subchapter s corporation located at 525 S Lake Ave Ste 315 in Duluth, Minnesota that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in February, 2021.
$
PPP Loan Information
Loan #7181448407
Loan Size:
Jobs Retained:
281Loan Approved:
2021-02-11Loan Status:
Paid in Full or ForgivenLender:
Southside BankLW Survey Co in Duluth, MN received a Paycheck Protection Loan of $2M through Southside Bank, which was approved in February, 2021.
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 February, 2022.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, LW Survey Co's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 281 jobs retained, this equals an estimated average yearly compensation of $34,164 per employee1
Reported PPP Proceed Usage:
On the PPP application, LW Survey Co reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,996
- Utilities: $1
Business Information - LW Survey Co in Duluth, MN
525 S Lake Ave Ste 315
Duluth, MN 55802
Business Industry:
Surveying and Mapping (except Geophysical) Services
NAICS code 541370
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: Y
Rural / Urban: Rural
Businesses Using Same Address:
There are 3 other businesses that received a PPP loan registered to the same address as LW Survey Co.
LW Survey Russia Inc
Surveying and Mapping (except Geophysical) Services
Spartan Engineering Inc
Engineering Services
Pulsar Operational Boundary Inc
Geophysical Surveying and Mapping Services
Similar Companies near Duluth
In the Duluth area, 2 businesses in the "Surveying and Mapping (except Geophysical) Services" industry received a PPP loan. These local businesses reported an average of 281 employees (compared to this company's 281) and received an average PPP loan of $1,013,019 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
LW Survey Russia Inc
Duluth, MN
Industry PPP Comparison Statistics
Nationwide, 5,503 businesses in the "Surveying and Mapping (except Geophysical) Services" industry received a total of $520.8M 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, 97% lower than LW Survey Co's reported 281 employees, and received an average PPP loan of $94,639, 95% lower than this company's loan of $2M.
LW Survey Co
Entity: Subchapter S Corporation
Industry: Geophysical Surveying and Mapping Services
Location: Duluth, MN
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LW Survey Co is a subchapter s corporation located at 525 S Lake Ave Ste 315 in Duluth, Minnesota that received a Coronavirus-related PPP loan from the SBA of $5,312,782.00 in April, 2020.
$
PPP Loan Information
Loan #2234047106
Loan Size:
Jobs Retained:
273Loan Approved:
2020-04-10Loan Status:
Paid in Full or ForgivenLender:
Southside BankLW Survey Co in Duluth, MN received a Paycheck Protection Loan of $5.31M through Southside Bank, 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 July, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, LW Survey Co's 2019 payroll expenses are estimated to be at least $25.5M.
Based on their reported 273 jobs retained, this equals an estimated average yearly compensation of $93,412 per employee1
Reported PPP Proceed Usage:
On the PPP application, LW Survey Co reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $5,312,782
Business Information - LW Survey Co in Duluth, MN
525 S Lake Ave Ste 315
Duluth, MN 55802
Business Industry:
Geophysical Surveying and Mapping Services
NAICS code 541360
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: Y
Rural / Urban: Rural
Businesses Using Same Address:
There are 3 other businesses that received a PPP loan registered to the same address as LW Survey Co.
LW Survey Russia Inc
Surveying and Mapping (except Geophysical) Services
Spartan Engineering Inc
Engineering Services
Pulsar Operational Boundary Inc
Geophysical Surveying and Mapping Services
Similar Companies near Duluth
In the Duluth area, 5 businesses in the "Geophysical Surveying and Mapping Services" industry received a PPP loan. These local businesses reported an average of 99 employees (compared to this company's 273) and received an average PPP loan of $1,244,001 (compared to this company's $5.31M).
Similar Nearby Businesses Who Received PPP Funding:
Spartan Engineering Inc
Duluth, MN
LW Survey Russia Inc
Duluth, MN
Pulsar Operational Boundary Inc
Duluth, MN
Industry PPP Comparison Statistics
Nationwide, 1,337 businesses in the "Geophysical Surveying and Mapping Services" industry received a total of $189.24M 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 10 employees, 96% lower than LW Survey Co's reported 273 employees, and received an average PPP loan of $141,539, 97% lower than this company's loan of $5.31M.
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. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
Footnotes & Information
1. Estimations for informational purposes only. 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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