PPP Loan Data — MGB Enterprises LLC, Denver, CO
MGB Enterprises LLC is a limited liability company (LLC) located in Denver, Colorado that received a Coronavirus-related PPP loan from the SBA of $25,399.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:U.S. Bank, National Association
MGB Enterprises LLC in Denver, CO received a Paycheck Protection Loan of $25,399 through U.S. Bank, National Association, which was approved in May, 2020.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 1. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
Reported PPP Proceed Usage:
On the PPP application, MGB Enterprises LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,399
Business Information - MGB Enterprises LLC in Denver, CO
* Full address is redacted to protect the privacy of individuals.
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
PPP recipients in this industry report an average of 0 employees, 100% lower than MGB Enterprises LLC's reported 1 employees, and received an average PPP loan of $0, 100% lower than this company's loan of $25,399.
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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