PPP Loan Data — Mannes Construction & Electric LLC, Lake Mills, IA
Mannes Construction & Electric LLC
Entity: Limited Liability Company (LLC)
Location: Lake Mills, IATweet This • Search All PPP Data
Mannes Construction & Electric LLC is a limited liability company (LLC) located at 309 Main St in Lake Mills, Iowa that received a Coronavirus-related PPP loan from the SBA of $24,845.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least three people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Farmers Trust & Savings Bank
Mannes Construction & Electric LLC in Lake Mills, IA received a Paycheck Protection Loan of $24,845 through Farmers Trust & Savings 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 February, 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, Mannes Construction & Electric LLC's 2019 payroll expenses are estimated to be at least $119,256.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $39,752 per employee1
Reported PPP Proceed Usage:
On the PPP application, Mannes Construction & Electric LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,845
Business Information - Mannes Construction & Electric LLC in Lake Mills, IA
309 Main St
Lake Mills, IA 50450
New Single-Family Housing Construction (except For-Sale Builders)
NAICS code 236115
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Lake Mills
In the Lake Mills area, 4 businesses in the "New Single-Family Housing Construction (except For-Sale Builders)" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 3) and received an average PPP loan of $11,365 (compared to this company's $24,845).
Similar Nearby Businesses Who Received PPP Funding:
Lake Mills, IA
Lake Mills, IA
Kurt Winter Construction LLC
Lake Mills, IA
Industry PPP Comparison Statistics
Nationwide, 127,156 businesses in the "New Single-Family Housing Construction (except For-Sale Builders)" industry received a total of $5.75B 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 5 employees, 67% higher than Mannes Construction & Electric LLC's reported 3 employees, and received an average PPP loan of $45,182, 82% higher than this company's loan of $24,845.
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Footnotes & Information
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