PPP Loan Data — Merjent, Inc, Minneapolis, MN
Entity: Subchapter S Corporation
Location: Minneapolis, MNTweet This • Search All PPP Data
Merjent, Inc is a subchapter s corporation located at 1 Main St Ste 300 in Minneapolis, Minnesota that received a Coronavirus-related PPP loan from the SBA of $2,388,655.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Merjent, Inc in Minneapolis, MN received a Paycheck Protection Loan of $2.39M through Northeast Bank, which was approved in April, 2020.
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, Merjent, Inc's 2019 payroll expenses are estimated to be at least $11.47M.
Based on their reported 123 jobs retained, this equals an estimated average yearly compensation of $93,216 per employee1
Reported PPP Proceed Usage:
On the PPP application, Merjent, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,388,655
Business Information - Merjent, Inc in Minneapolis, MN
1 Main St Ste 300
Minneapolis, MN 55414
Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors
NAICS code 926150
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 591 businesses in the "Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors" industry received a total of $41.54M 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 6 employees, 95% lower than Merjent, Inc's reported 123 employees, and received an average PPP loan of $70,282, 97% lower than this company's loan of $2.39M.
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Footnotes & Information
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