PPP Loan Data — Manor Concrete Construction, Inc, Osseo, MN
Manor Concrete Construction, Inc is a subchapter s corporation located at 11225 90th Ave N in Osseo, Minnesota that received a Coronavirus-related PPP loan from the SBA of $1,855,500.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:BMO Harris Bank National Association
Manor Concrete Construction, Inc in Osseo, MN received a Paycheck Protection Loan of $1.86M through BMO Harris Bank National Association, 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 January, 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, Manor Concrete Construction, Inc's 2019 payroll expenses are estimated to be at least $8.91M.
Based on their reported 155 jobs retained, this equals an estimated average yearly compensation of $57,461 per employee1
Reported PPP Proceed Usage:
On the PPP application, Manor Concrete Construction, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,855,500
Business Information - Manor Concrete Construction, Inc in Osseo, MN
11225 90th Ave N
Osseo, MN 55369
NAICS code 238140
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Osseo
In the Osseo area, 4 businesses in the "Masonry Contractors" industry received a PPP loan. These local businesses reported an average of 40 employees (compared to this company's 155) and received an average PPP loan of $471,532 (compared to this company's $1.86M).
Similar Nearby Businesses Who Received PPP Funding:
Big Tower Construction LLC
Maple Grove, MN
Lenzen Services LLC
Norwood Young America, MN
Industry PPP Comparison Statistics
Nationwide, 16,648 businesses in the "Masonry Contractors" industry received a total of $1.65B 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 9 employees, 94% lower than Manor Concrete Construction, Inc's reported 155 employees, and received an average PPP loan of $99,369, 95% lower than this company's loan of $1.86M.
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Footnotes & Information
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