PPP Loan Data — Nightowl Document Management Services, Inc, Wayzata, MN
Nightowl Document Management Services, Inc is a subchapter s corporation located at 1000 Parkers Lake Rd in Wayzata, Minnesota that received a Coronavirus-related PPP loan from the SBA of $1,518,700.00 in April, 2020.
The company has reported itself as a female owned business, and employed at least 92 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Alerus Financial, National Association
Nightowl Document Management Services, Inc in Wayzata, MN received a Paycheck Protection Loan of $1.52M through Alerus Financial, National Association, 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 July, 2020.
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, Nightowl Document Management Services, Inc's 2019 payroll expenses are estimated to be at least $7.29M.
Based on their reported 92 jobs retained, this equals an estimated average yearly compensation of $79,237 per employee1
Reported PPP Proceed Usage:
On the PPP application, Nightowl Document Management Services, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,139,025
- Utilities: $379,675
Business Information - Nightowl Document Management Services, Inc in Wayzata, MN
1000 Parkers Lake Rd
Wayzata, MN 55391
Data Processing, Hosting, and Related Services
NAICS code 518210
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Wayzata
In the Wayzata area, 2 businesses in the "Data Processing, Hosting, and Related Services" industry received a PPP loan. These local businesses reported an average of 51 employees (compared to this company's 92) and received an average PPP loan of $835,012 (compared to this company's $1.52M).
Similar Nearby Businesses Who Received PPP Funding:
Industry PPP Comparison Statistics
Nationwide, 10,209 businesses in the "Data Processing, Hosting, and Related Services" industry received a total of $1.51B 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 11 employees, 88% lower than Nightowl Document Management Services, Inc's reported 92 employees, and received an average PPP loan of $147,893, 90% lower than this company's loan of $1.52M.
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Footnotes & Information
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