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PPP Loan Data — Northland Securities, Inc., Minneapolis, MN

SBA PPP loan data, payroll data, and salaries for Northland Securities, Inc.
MN

Northland Securities, Inc.

Entity: Corporation

Industry: Securities Brokerage

Location: Minneapolis, MN

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Northland Securities, Inc. is a corporation located at 150 South Fifth Street, Suite 3300 in Minneapolis, Minnesota that received a Coronavirus-related PPP loan from the SBA of $3,092,700.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.09M

Jobs Retained:

153

Loan Approved:

2020-04-14

Lender:

BANKVISTA

Northland Securities, Inc. received a Paycheck Protection Loan of $3.09M through BANKVISTA, which was approved in April, 2020.

Based on standard PPP eligibility rules, Northland Securities, Inc.'s total 2019 payroll expenses were approximately $14.84M in order to qualify for the PPP loan amount received.

Based on their reported 153 jobs retained, this equals an estimated average yearly compensation of $97,026 per employee1.

Because the loan received by Northland Securities, Inc. is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Northland Securities, Inc. in Minneapolis, MN

Northland Securities, Inc.
150 South Fifth Street, Suite 3300
Minneapolis, MN 55402

Business Industry

Securities Brokerage (NAICS code 523120)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MN-05

Similar Companies near Minneapolis

In the Minneapolis area, 3 businesses in the "Securities Brokerage" industry received a PPP loan. These local businesses reported an average of 51 employees (compared to this company's 153) and received an average PPP loan of $1,086,790 (compared to this company's $3.09M).

Industry PPP Comparison Statistics

Nationwide, 3,089 businesses in the "Securities Brokerage" industry received a total of $262,454,625.00 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 5 employees, 97% lower than Northland Securities, Inc.'s reported 153 employees, and received an average PPP loan of $84,964, 97% lower than this company's loan of $3.09M.

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.

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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/northland-securities-inc-minneapolis-mn