PPP Loan Data — Medina Electric, LLC, Hamel, MN
Medina Electric, LLC
Entity: Limited Liability Company (LLC)
Location: Hamel, MNTweet This • Search All PPP Data
Medina Electric, LLC is a limited liability company (LLC) located at 22510 State Highway 55 in Hamel, Minnesota that received a Coronavirus-related PPP loan from the SBA of $5,131,844.00 in April, 2020.
$ PPP Loan Information
Jobs Retained:0 Unreported
Lender:TCF NATIONAL BANK
Medina Electric, LLC in Hamel, MN received a Paycheck Protection Loan of $5.13M through TCF NATIONAL BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Medina Electric, LLC's total 2019 payroll expenses were approximately $24.63M in order to qualify for the PPP loan amount received.
Unlike most businesses, Medina Electric, LLC's PPP data does not report the number of jobs retained by their receipt of the Paycheck Protection Loan (some banks did not release this infomation from their loan applications). Without this data, per-employee payrolls for this company cannot be estimated.
Business Information - Medina Electric, LLC in Hamel, MN
22510 State Highway 55
Hamel, MN 55340
Electrical Contractors and Other Wiring Installation Contractors (NAICS code 238210)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: MN-03
Similar Companies near Hamel
In the Hamel area, 5 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 0) and received an average PPP loan of $1,073,029 (compared to this company's $5.13M).
Similar Nearby Businesses Who Received PPP Funding:
Patnode Electric, Inc.
Farber Sound, LLC
Norske Electric, Inc.
Pence Electrical Contracting Inc
Industry PPP Comparison Statistics
Nationwide, 44,489 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a total of $8,060,101,877.00 in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 12 employees, and received an average PPP loan of $181,171, 96% lower than this company's loan of $5.13M.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!