PPP Loan Data — Nasseff Plumbing & Heating, Inc., Saint Paul, MN
Nasseff Plumbing & Heating, Inc. is a corporation located at 122 S Wabasha St in Saint Paul, Minnesota that received a Coronavirus-related PPP loan from the SBA of $3,865,247.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 98 people during the applicable loan loan period.
$ PPP Loan Information
Nasseff Plumbing & Heating, Inc. in Saint Paul, MN received a Paycheck Protection Loan of $3.87M through DRAKE BANK, which was approved in April, 2020.
The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 98 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.
2019 Payroll Estimations based On PPP Amount:
Assuming all employees were paid over the $100k eligibility cap, the minimum number of employees this company must have had in 2019 to qualify for the loan range received is 186.
Based on standard PPP eligibility rules, Nasseff Plumbing & Heating, Inc.'s total 2019 payroll expenses were approximately $18.55M (not accounting for salary amounts > $100k) in order to qualify for the PPP loan amount received.
Because the 98 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Business Information - Nasseff Plumbing & Heating, Inc. in Saint Paul, MN
Industry PPP Comparison Statistics
Nationwide, 5,156,850 businesses in the "" industry received a total of $522,949,858,572.00 in PPP loans. These businesses account for 100% of total PPP applications submitted, and received 100% of the total PPP funding allocated.
PPP recipients in this industry report an average of 10 employees, 90% lower than Nasseff Plumbing & Heating, Inc.'s reported 98 employees, and received an average PPP loan of $101,409, 97% lower than this company's loan of $3.87M.
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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