PPP Loan Data — Northland Native American Products LLC, Minneapolis, MN
Northland Native American Products LLC is a sole proprietorship located at 861 E Hennepin Ave Suite 130 in Minneapolis, Minnesota that received a Coronavirus-related PPP loan from the SBA of $24,820.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Woodlands National Bank
Northland Native American Products LLC in Minneapolis, MN received a Paycheck Protection Loan of $24,820 through Woodlands National Bank, which was approved in May, 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, Northland Native American Products LLC's 2019 payroll expenses are estimated to be at least $119,136.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $39,712 per employee1
Reported PPP Proceed Usage:
On the PPP application, Northland Native American Products LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,820
Business Information - Northland Native American Products LLC in Minneapolis, MN
861 E Hennepin Ave Suite 130
Minneapolis, MN 55414
Gift, Novelty, and Souvenir Stores
NAICS code 453220
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Minneapolis
In the Minneapolis area, 4 businesses in the "Gift, Novelty, and Souvenir Stores" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 3) and received an average PPP loan of $23,979 (compared to this company's $24,820).
Similar Nearby Businesses Who Received PPP Funding:
Aida Aziz Tadros
I Like You LLC
Curiosity Home Decor & More LLC
Industry PPP Comparison Statistics
Nationwide, 17,351 businesses in the "Gift, Novelty, and Souvenir Stores" industry received a total of $573.27M 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 6 employees, 100% higher than Northland Native American Products LLC's reported 3 employees, and received an average PPP loan of $33,040, 33% higher than this company's loan of $24,820.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!