PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Novus Media LLC, Minneapolis, MN

SBA PPP loan data, payroll data, and salaries for Novus Media LLC
MN

Novus Media LLC

Entity: Limited Liability Company (LLC)

Industry: Advertising Agencies

Location: Minneapolis, MN

Search All PPP Data

Novus Media LLC is a limited liability company (LLC) located at 2 Carlson Pkwy Ste 400 in Minneapolis, Minnesota that received a Coronavirus-related PPP loan from the SBA of $3,070,500.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.07M

Jobs Retained:

177

Loan Approved:

2020-04-15

Lender:

CITIBANK, N.A.

Novus Media LLC received a Paycheck Protection Loan of $3.07M through CITIBANK, N.A., which was approved in April, 2020.

Based on standard PPP eligibility rules, Novus Media LLC's total 2019 payroll expenses were approximately $14.74M in order to qualify for the PPP loan amount received.

Based on their reported 177 jobs retained, this equals an estimated average yearly compensation of $83,268 per employee1.

Because the loan received by Novus Media 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 - Novus Media LLC in Minneapolis, MN

Novus Media LLC
2 Carlson Pkwy Ste 400
Minneapolis, MN 55447

Business Industry

Advertising Agencies (NAICS code 541810)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MN-03

Similar Companies near Minneapolis

In the Minneapolis area, 5 businesses in the "Advertising Agencies" industry received a PPP loan. These local businesses reported an average of 58 employees (compared to this company's 177) and received an average PPP loan of $991,389 (compared to this company's $3.07M).

Industry PPP Comparison Statistics

Nationwide, 11,928 businesses in the "Advertising Agencies" industry received a total of $1,505,946,886.00 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 8 employees, 95% lower than Novus Media LLC's reported 177 employees, and received an average PPP loan of $126,253, 96% lower than this company's loan of $3.07M.

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.

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.


Have FederalPay.org's open data tools been valuable? Consider donating!

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