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PPP Loan Data — Norminn Industrial, LLC, Clearbrook, MN

SBA PPP loan data, payroll data, and salaries for Norminn Industrial, LLC
MN

Norminn Industrial, LLC

Entity: Limited Liability Company (LLC)

Industry: Oil and Gas Pipeline and Related Structures Construction

Location: Clearbrook, MN

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Norminn Industrial, LLC is a limited liability company (LLC) located at 453 Tower St Nw in Clearbrook, Minnesota that received a Coronavirus-related PPP loan from the SBA of $1,305,100.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$1.31M

Jobs Retained:

0 Unreported

Loan Approved:

2020-04-08

Lender:

ASSOCIATED BANK, NATIONAL ASSOCIATION

Norminn Industrial, LLC received a Paycheck Protection Loan of $1.31M through ASSOCIATED BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Norminn Industrial, LLC's total 2019 payroll expenses were approximately $6.26M in order to qualify for the PPP loan amount received.

Unlike most businesses, Norminn Industrial, LLC's PPP data does not report the number of jobs retained by their receipt of the Paycheck Protection Loan (some banks did not release this infomation from their loan applications). Without this data, per-employee payrolls for this company cannot be estimated.

Business Information - Norminn Industrial, LLC in Clearbrook, MN

Norminn Industrial, LLC
453 Tower St Nw
Clearbrook, MN 56634

Business Industry

Oil and Gas Pipeline and Related Structures Construction (NAICS code 237120)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MN-07

Similar Companies near Clearbrook

In the Clearbrook area, 2 businesses in the "Oil and Gas Pipeline and Related Structures Construction" industry received a PPP loan. These local businesses reported an average of 0 employees (compared to this company's 0) and received an average PPP loan of $3,466,800 (compared to this company's $1.31M).

Similar Nearby Businesses Who Received PPP Funding:

Charps, LLC
Clearbrook, MN

$5.63M PPP Loan

Industry PPP Comparison Statistics

Nationwide, 1,513 businesses in the "Oil and Gas Pipeline and Related Structures Construction" industry received a total of $689,155,003.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 26 employees, and received an average PPP loan of $455,489, 65% lower than this company's loan of $1.31M.

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.

Search FederalPay's Full PPP Loan Database

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/norminn-industrial-llc-clearbrook-mn