PPP Loan Data — Powell Excavating And Tree Service LLC, Bigfork, MN
Powell Excavating And Tree Service LLC is a limited liability company (LLC) located at 53049 Becker Rd in Bigfork, Minnesota that received a Coronavirus-related PPP loan from the SBA of $25,467.00 in January, 2021.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:First State Bank of Bigfork
Powell Excavating And Tree Service LLC in Bigfork, MN received a Paycheck Protection Loan of $25,467 through First State Bank of Bigfork, which was approved in January, 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, Powell Excavating And Tree Service LLC's 2019 payroll expenses are estimated to be at least $122,242.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $61,121 per employee1
Reported PPP Proceed Usage:
On the PPP application, Powell Excavating And Tree Service LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,465
- Utilities: $1
Business Information - Powell Excavating And Tree Service LLC in Bigfork, MN
53049 Becker Rd
Bigfork, MN 56628
Site Preparation Contractors
NAICS code 238910
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Bigfork
In the Bigfork area, 2 businesses in the "Site Preparation Contractors" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 2) and received an average PPP loan of $21,504 (compared to this company's $25,467).
Similar Nearby Businesses Who Received PPP Funding:
Powell Excavating & Tree Service LLC
Industry PPP Comparison Statistics
Nationwide, 30,927 businesses in the "Site Preparation Contractors" industry received a total of $4.31B 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 12 employees, 500% higher than Powell Excavating And Tree Service LLC's reported 2 employees, and received an average PPP loan of $139,293, 447% higher than this company's loan of $25,467.
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Footnotes & Information
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