PPP Loan Data — M.j. Arndt Construction Company, Blaine, MN
M.j. Arndt Construction Company is a corporation located at 8842 Xylite St Nw in Blaine, Minnesota that received a Coronavirus-related PPP loan from the SBA of $25,100.00 in May, 2020.
The company has reported itself as a male owned business, and employed at least three people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Frandsen Bank & Trust
M.j. Arndt Construction Company in Blaine, MN received a Paycheck Protection Loan of $25,100 through Frandsen Bank & Trust, which was approved in May, 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, M.j. Arndt Construction Company's 2019 payroll expenses are estimated to be at least $120,480.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,160 per employee1
Reported PPP Proceed Usage:
On the PPP application, M.j. Arndt Construction Company reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,100
Business Information - M.j. Arndt Construction Company in Blaine, MN
8842 Xylite St Nw
Blaine, MN 55449
NAICS code 238140
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Blaine
In the Blaine area, 4 businesses in the "Masonry Contractors" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 3) and received an average PPP loan of $32,448 (compared to this company's $25,100).
Similar Nearby Businesses Who Received PPP Funding:
Twin City Restoration
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, 200% higher than M.j. Arndt Construction Company's reported 3 employees, and received an average PPP loan of $99,369, 296% higher than this company's loan of $25,100.
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Footnotes & Information
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