PPP Loan Data — Peter Rasmusson, Jamestown, ND
Peter Rasmusson is a sole proprietorship located in Jamestown, North Dakota that received a Coronavirus-related PPP loan from the SBA of $25,210.00 in January, 2021.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:American Bank Center
Peter Rasmusson in Jamestown, ND received a Paycheck Protection Loan of $25,210 through American Bank Center, which was approved in January, 2021.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 1. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
Reported PPP Proceed Usage:
On the PPP application, Peter Rasmusson reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,210
Business Information - Peter Rasmusson in Jamestown, ND
* Full address is redacted to protect the privacy of individuals.
NAICS code 111110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Jamestown
In the Jamestown area, 138 businesses in the "Soybean Farming" industry received a PPP loan. These local businesses reported an average of 1 employees (compared to this company's 1) and received an average PPP loan of $19,074 (compared to this company's $25,210).
Similar Nearby Businesses Who Received PPP Funding:
Industry PPP Comparison Statistics
Nationwide, 57,165 businesses in the "Soybean Farming" industry received a total of $1.13B 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 2 employees, 100% higher than Peter Rasmusson's reported 1 employees, and received an average PPP loan of $19,731, 22% lower than this company's loan of $25,210.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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