PPP Loan Data — Msnw Group LLC, Ferndale, WA
Msnw Group LLC is a limited liability company (LLC) located at 2257 Northgate Spur in Ferndale, Washington that received a Coronavirus-related PPP loan from the SBA of $2,209,200.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Msnw Group LLC in Ferndale, WA received a Paycheck Protection Loan of $2.21M through Northwest Bank, which was approved in April, 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 May, 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, Msnw Group LLC's 2019 payroll expenses are estimated to be at least $10.6M.
Based on their reported 410 jobs retained, this equals an estimated average yearly compensation of $25,864 per employee1
Reported PPP Proceed Usage:
On the PPP application, Msnw Group LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,209,200
Business Information - Msnw Group LLC in Ferndale, WA
2257 Northgate Spur
Ferndale, WA 98248
NAICS code 561720
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Ferndale
In the Ferndale area, 16 businesses in the "Janitorial Services" industry received a PPP loan. These local businesses reported an average of 28 employees (compared to this company's 410) and received an average PPP loan of $146,422 (compared to this company's $2.21M).
Similar Nearby Businesses Who Received PPP Funding:
Molly Collmann DBA Clean 'N Green
S&H Quality Services LLC
Mama Bear Cleaning LLC
Ashley N West
Mellema Contracting LLC
Industry PPP Comparison Statistics
Nationwide, 146,067 businesses in the "Janitorial Services" industry received a total of $4.43B 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 5 employees, 99% lower than Msnw Group LLC's reported 410 employees, and received an average PPP loan of $30,311, 99% lower than this company's loan of $2.21M.
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Footnotes & Information
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