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

PPP Loan Data — Nygaard And Longe Law Office, Little Canada, MN

ALERT: There are 2 PPP loans for a total of $50,000 in our database for businesses with the name "Nygaard And Longe Law Office" in Little Canada, MN. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Nygaard And Longe Law Office
MN

Nygaard And Longe Law Office

Entity: Partnership

Industry: Legal Counsel and Prosecution

Location: Little Canada, MN

Search All PPP Data

Nygaard And Longe Law Office is a partnership located at 2588 Rice St in Little Canada, Minnesota that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in March, 2021.

The company has reported itself as a White male owned business, and employed at least two people during the applicable loan loan period.

$ PPP Loan Information
Loan #6674138608

Loan Size:

$25,000

Jobs Retained:

2

Loan Approved:

2021-03-23

Loan Status:

Ongoing Loan

Lender:

Newtek Small Business Finance, Inc.

Nygaard And Longe Law Office in Little Canada, MN received a Paycheck Protection Loan of $25,000 through Newtek Small Business Finance, Inc., which was approved in March, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Nygaard And Longe Law Office's 2019 payroll expenses are estimated to be at least $120,000.

Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,000 per employee1

Reported PPP Proceed Usage:

On the PPP application, Nygaard And Longe Law Office reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $24,997
  • Utilities: $1

Business Information - Nygaard And Longe Law Office in Little Canada, MN

Nygaard And Longe Law Office
2588 Rice St
Little Canada, MN 55113

Business Industry:
Legal Counsel and Prosecution
NAICS code 922130

Business Owner Demographics

Race: White

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Ramsey County, MN — SBA Office 0508 — Congressional District: MN-04

Similar Companies near Little Canada

In the Little Canada area, 4 businesses in the "Legal Counsel and Prosecution" industry received a PPP loan. These local businesses reported an average of 9 employees (compared to this company's 2) and received an average PPP loan of $98,511 (compared to this company's $25,000).

Industry PPP Comparison Statistics

Nationwide, 9,119 businesses in the "Legal Counsel and Prosecution" industry received a total of $556.3M 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 4 employees, 100% higher than Nygaard And Longe Law Office's reported 2 employees, and received an average PPP loan of $61,005, 144% higher than this company's loan of $25,000.

SBA PPP loan data, payroll data, and salaries for Nygaard And Longe Law Office
MN

Nygaard And Longe Law Office

Entity: Partnership

Industry: Offices of Lawyers

Location: Little Canada, MN

Search All PPP Data

Nygaard And Longe Law Office is a partnership located at 2588 Rice St in Little Canada, Minnesota that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in June, 2020.

The company has reported itself as a White male owned business, and employed at least two people during the applicable loan loan period.

$ PPP Loan Information
Loan #9524237801

Loan Size:

$25,000

Jobs Retained:

2

Loan Approved:

2020-06-08

Loan Status:

Paid in Full or Forgiven

Lender:

Newtek Small Business Finance, Inc.

Nygaard And Longe Law Office in Little Canada, MN received a Paycheck Protection Loan of $25,000 through Newtek Small Business Finance, Inc., which was approved in June, 2020.

This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in March, 2021.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Nygaard And Longe Law Office's 2019 payroll expenses are estimated to be at least $120,000.

Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,000 per employee1

Reported PPP Proceed Usage:

On the PPP application, Nygaard And Longe Law Office reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $25,000

Business Information - Nygaard And Longe Law Office in Little Canada, MN

Nygaard And Longe Law Office
2588 Rice St
Little Canada, MN 55113

Business Industry:
Offices of Lawyers
NAICS code 541110

Business Owner Demographics

Race: White

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: N

Rural / Urban: Urban

Ramsey County, MN — SBA Office 0508 — Congressional District: MN-04

Similar Companies near Little Canada

In the Little Canada area, 75 businesses in the "Offices of Lawyers" industry received a PPP loan. These local businesses reported an average of 8 employees (compared to this company's 2) and received an average PPP loan of $92,753 (compared to this company's $25,000).

Industry PPP Comparison Statistics

Nationwide, 200,895 businesses in the "Offices of Lawyers" industry received a total of $16.38B in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 2% of the total PPP funding allocated.

PPP recipients in this industry report an average of 6 employees, 200% higher than Nygaard And Longe Law Office's reported 2 employees, and received an average PPP loan of $81,518, 226% higher than this company's loan of $25,000.

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. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. 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/nygaard-and-longe-law-office-little-canada-mn