PPP Loan Data — Marketing Archiects, Inc, Hopkins, MN
Marketing Archiects, Inc is a subchapter s corporation located at 110 Cheshire Ln Suite 200 in Hopkins, Minnesota that received a Coronavirus-related PPP loan from the SBA of $1,715,000.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Tradition Capital Bank
Marketing Archiects, Inc in Hopkins, MN received a Paycheck Protection Loan of $1.72M through Tradition Capital Bank, which was approved in April, 2020.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 82. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
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, Marketing Archiects, Inc's 2019 payroll expenses are estimated to be at least $8.23M (not accounting for salary amounts > $100k).
Because the 79 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Reported PPP Proceed Usage:
On the PPP application, Marketing Archiects, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,286,250
- Utilities: $85,750
- Mortgage Interest: $343,000
Business Information - Marketing Archiects, Inc in Hopkins, MN
110 Cheshire Ln Suite 200
Hopkins, MN 55305
Other Services Related to Advertising
NAICS code 541890
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Hopkins
In the Hopkins area, 7 businesses in the "Other Services Related to Advertising" industry received a PPP loan. These local businesses reported an average of 13 employees (compared to this company's 79) and received an average PPP loan of $274,462 (compared to this company's $1.72M).
Similar Nearby Businesses Who Received PPP Funding:
Stone Arch Bridge Group Inc
Slickrock Marketing And Design Inc
It's All Marketing Inc
Wilson Company Marketing & Promotion, Inc
Industry PPP Comparison Statistics
Nationwide, 12,550 businesses in the "Other Services Related to Advertising" industry received a total of $692.9M 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 5 employees, 94% lower than Marketing Archiects, Inc's reported 79 employees, and received an average PPP loan of $55,211, 97% lower than this company's loan of $1.72M.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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