PPP Loan Data — Morken Eckberg Steiner LLC, Mankato, MN
Morken Eckberg Steiner LLC is a limited liability company (LLC) located at 100 Madison Ave in Mankato, Minnesota that received a Coronavirus-related PPP loan from the SBA of $163,000.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least ten people during the applicable loan loan period.
$ PPP Loan Information
Lender:UNITED PRAIRIE BANK
Morken Eckberg Steiner LLC received a Paycheck Protection Loan of $163,000 through UNITED PRAIRIE BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Morken Eckberg Steiner LLC's total 2019 payroll expenses were approximately $782,400 in order to qualify for the PPP loan amount received.
Based on their reported 10 jobs retained, this equals an estimated average yearly compensation of $78,240 per employee1.
Business Information - Morken Eckberg Steiner LLC in Mankato, MN
100 Madison Ave
Mankato, MN 56001
Offices of Certified Public Accountants (NAICS code 541211)
Business Owner Demographics
Race / Ethnicity: WHITE
Gender: MALE OWNED
Veteran Status: UnreportedCongressional District: MN-01
Similar Companies near Mankato
In the Mankato area, 5 businesses in the "Offices of Certified Public Accountants" industry received a PPP loan. These local businesses reported an average of 36 employees (compared to this company's 10) and received an average PPP loan of $587,200 (compared to this company's $163,000).
Similar Nearby Businesses Who Received PPP Funding:
Accounting And Tax Solutions Inc.
Abdo, Eick & Meyers, LLP
Kristen R Pinette CPA, Inc
Milbrett, Dauk & Co,LTD
Industry PPP Comparison Statistics
Nationwide, 37,661 businesses in the "Offices of Certified Public Accountants" industry received a total of $3,350,637,371.00 in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 6 employees, 40% lower than Morken Eckberg Steiner LLC's reported 10 employees, and received an average PPP loan of $88,968, 45% lower than this company's loan of $163,000.
FederalPay's PPP Information Policy
Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.
All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
Footnotes & Information
1. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.
2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.
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