PPP Loan Data — Owens Auto Parts LLC, Mora, MN
Owens Auto Parts LLC is a limited liability company (LLC) located at 811 S Highway 65 in Mora, Minnesota that received a Coronavirus-related PPP loan from the SBA of $25,440.00 in April, 2020.
The company has reported itself as a female veteran owned business, and employed at least five people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:The First National Bank of Milaca
Owens Auto Parts LLC in Mora, MN received a Paycheck Protection Loan of $25,440 through The First National Bank of Milaca, which was approved in April, 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 February, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
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, Owens Auto Parts LLC's 2019 payroll expenses are estimated to be at least $122,112.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $24,422 per employee1
Reported PPP Proceed Usage:
On the PPP application, Owens Auto Parts LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,440
Business Information - Owens Auto Parts LLC in Mora, MN
811 S Highway 65
Mora, MN 55051
Automotive Parts and Accessories Stores
NAICS code 441310
Business Owner Demographics
Gender: Female Owned
Veteran Status: Veteran
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Rural
Similar Companies near Mora
In the Mora area, 2 businesses in the "Automotive Parts and Accessories Stores" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 5) and received an average PPP loan of $19,270 (compared to this company's $25,440).
Similar Nearby Businesses Who Received PPP Funding:
Nordmeier Bros Inc
Industry PPP Comparison Statistics
Nationwide, 17,983 businesses in the "Automotive Parts and Accessories Stores" industry received a total of $1.2B 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 8 employees, 60% higher than Owens Auto Parts LLC's reported 5 employees, and received an average PPP loan of $66,454, 161% higher than this company's loan of $25,440.
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Footnotes & Information
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