PPP Loan Data — Mobile Extrusion Toll Processing LLP, Woodbury, MN
Mobile Extrusion Toll Processing LLP is a partnership located at 9459 Barrington Rd in Woodbury, Minnesota that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in June, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Mobile Extrusion Toll Processing LLP in Woodbury, MN received a Paycheck Protection Loan of $25,000 through FM Bank, which was approved in June, 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 March, 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, Mobile Extrusion Toll Processing LLP's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Mobile Extrusion Toll Processing LLP reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Mobile Extrusion Toll Processing LLP in Woodbury, MN
9459 Barrington Rd
Woodbury, MN 55125
Soybean and Other Oilseed Processing
NAICS code 311224
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Woodbury
In the Woodbury area, 2 businesses in the "Soybean and Other Oilseed Processing" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 2) and received an average PPP loan of $25,000 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Mobile Extrusion Toll Processing LLC
Saint Paul, MN
Industry PPP Comparison Statistics
Nationwide, 227 businesses in the "Soybean and Other Oilseed Processing" industry received a total of $35.02M 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 15 employees, 650% higher than Mobile Extrusion Toll Processing LLP's reported 2 employees, and received an average PPP loan of $154,290, 517% higher than this company's loan of $25,000.
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Footnotes & Information
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