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PPP Loan Data — Nova Group, Gbc, Chaska, MN

SBA PPP loan data, payroll data, and salaries for Nova Group, Gbc
MN

Nova Group, Gbc

Entity: Corporation

Industry: Engineering Services

Location: Chaska, MN

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Nova Group, Gbc is a corporation located at 1107 Hazeltine Blvd. in Chaska, Minnesota that received a Coronavirus-related PPP loan from the SBA of $2,722,200.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.72M

Jobs Retained:

154

Loan Approved:

2020-04-08

Lender:

BMO HARRIS BANK NATIONAL ASSOCIATION

Nova Group, Gbc received a Paycheck Protection Loan of $2.72M through BMO HARRIS BANK NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Nova Group, Gbc's total 2019 payroll expenses were approximately $13.07M in order to qualify for the PPP loan amount received.

Based on their reported 154 jobs retained, this equals an estimated average yearly compensation of $84,848 per employee1.

Because the loan received by Nova Group, Gbc 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 - Nova Group, Gbc in Chaska, MN

Nova Group, Gbc
1107 Hazeltine Blvd.
Chaska, MN 55318

Business Industry

Engineering Services (NAICS code 541330)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MN-03

Similar Companies near Chaska

In the Chaska area, 7 businesses in the "Engineering Services" industry received a PPP loan. These local businesses reported an average of 26 employees (compared to this company's 154) and received an average PPP loan of $493,713 (compared to this company's $2.72M).

Industry PPP Comparison Statistics

Nationwide, 28,113 businesses in the "Engineering Services" industry received a total of $7,024,215,141.00 in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.

PPP recipients in this industry report an average of 14 employees, 91% lower than Nova Group, Gbc's reported 154 employees, and received an average PPP loan of $249,856, 91% lower than this company's loan of $2.72M.

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/nova-group-gbc-chaska-mn