PPP Loan Data — Parallel Technologies, Inc., Eden Prairie, MN
Parallel Technologies, Inc. is a corporation located at 7667 Equitable Drive in Eden Prairie, Minnesota that received a Coronavirus-related PPP loan from the SBA of $2,444,600.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 120 people during the applicable loan loan period.
$ PPP Loan Information
Lender:CHOICE FINANCIAL GROUP
Parallel Technologies, Inc. received a Paycheck Protection Loan of $2.44M through CHOICE FINANCIAL GROUP, which was approved in April, 2020.
Based on standard PPP eligibility rules, Parallel Technologies, Inc.'s total 2019 payroll expenses were approximately $11.73M in order to qualify for the PPP loan amount received.
Based on their reported 120 jobs retained, this equals an estimated average yearly compensation of $97,784 per employee1.
Business Information - Parallel Technologies, Inc. in Eden Prairie, MN
7667 Equitable Drive
Eden Prairie, MN 55344
All Other Specialty Trade Contractors (NAICS code 238990)
Business Owner Demographics
Race / Ethnicity: WHITE
Gender: MALE OWNED
Veteran Status: UnreportedCongressional District: MN-03
Similar Companies near Eden Prairie
In the Eden Prairie area, 10 businesses in the "All Other Specialty Trade Contractors" industry received a PPP loan. These local businesses reported an average of 19 employees (compared to this company's 120) and received an average PPP loan of $308,891 (compared to this company's $2.44M).
Similar Nearby Businesses Who Received PPP Funding:
Custom Pools Inc
Eden Prairie, MN
GMO Holdings, LLC
Superior Decks, Inc.
Radon Reduction Incorporated
Body Restoration LLC
Aqua Engineering, Inc.
Eden Prairie, MN
Industry PPP Comparison Statistics
Nationwide, 44,474 businesses in the "All Other Specialty Trade Contractors" industry received a total of $5,068,221,395.00 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 9 employees, 93% lower than Parallel Technologies, Inc.'s reported 120 employees, and received an average PPP loan of $113,959, 95% lower than this company's loan of $2.44M.
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