PPP Loan Data — Park Construction Company, Minneapolis, MN
Park Construction Company is a subchapter s corporation located at 1481 81st Ave Ne in Minneapolis, Minnesota that received a Coronavirus-related PPP loan from the SBA of $2,477,200.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bremer Bank, National Association
Park Construction Company in Minneapolis, MN received a Paycheck Protection Loan of $2.48M through Bremer Bank, National Association, which was approved in April, 2020.
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, Park Construction Company's 2019 payroll expenses are estimated to be at least $11.89M.
Based on their reported 230 jobs retained, this equals an estimated average yearly compensation of $51,698 per employee1
Reported PPP Proceed Usage:
On the PPP application, Park Construction Company reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,477,200
Business Information - Park Construction Company in Minneapolis, MN
1481 81st Ave Ne
Minneapolis, MN 55432
Highway, Street, and Bridge Construction
NAICS code 237310
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Minneapolis
In the Minneapolis area, 2 businesses in the "Highway, Street, and Bridge Construction" industry received a PPP loan. These local businesses reported an average of 120 employees (compared to this company's 230) and received an average PPP loan of $1,251,553 (compared to this company's $2.48M).
Similar Nearby Businesses Who Received PPP Funding:
Dominionaire Contracting Inc
Coon Rapids, MN
Industry PPP Comparison Statistics
Nationwide, 11,483 businesses in the "Highway, Street, and Bridge Construction" industry received a total of $3.92B 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 26 employees, 89% lower than Park Construction Company's reported 230 employees, and received an average PPP loan of $341,702, 86% lower than this company's loan of $2.48M.
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Footnotes & Information
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