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PPP Loan Data — Nova-Tech Engineering, LLC, Willmar, MN

SBA PPP loan data, payroll data, and salaries for Nova-Tech Engineering, LLC

Nova-Tech Engineering, LLC

Entity: Limited Liability Company (LLC)

Industry: All Other Miscellaneous Electrical Equipment and Component Manufacturing

Location: Willmar, MN

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Nova-Tech Engineering, LLC is a limited liability company (LLC) located at 1705 Engineering, Llc in Willmar, Minnesota that received a Coronavirus-related PPP loan from the SBA of $3,145,300.00 in April, 2020.

$ PPP Loan Information

Loan Size:


Jobs Retained:


Loan Approved:




Nova-Tech Engineering, LLC in Willmar, MN received a Paycheck Protection Loan of $3.15M through BREMER BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Nova-Tech Engineering, LLC's total 2019 payroll expenses were approximately $15.1M in order to qualify for the PPP loan amount received.

Based on their reported 248 jobs retained, this equals an estimated average yearly compensation of $60,877 per employee1.

Because the loan received by Nova-Tech Engineering, LLC 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-Tech Engineering, LLC in Willmar, MN

Nova-Tech Engineering, LLC
1705 Engineering, Llc
Willmar, MN 56201

Business Industry

All Other Miscellaneous Electrical Equipment and Component Manufacturing (NAICS code 335999)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MN-07

Industry PPP Comparison Statistics

Nationwide, 1,412 businesses in the "All Other Miscellaneous Electrical Equipment and Component Manufacturing" industry received a total of $338,887,280.00 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 18 employees, 93% lower than Nova-Tech Engineering, LLC's reported 248 employees, and received an average PPP loan of $240,005, 92% lower than this company's loan of $3.15M.

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, 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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