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PPP Loan Data — Productivity, Inc., Minneapolis, MN

SBA PPP loan data, payroll data, and salaries for Productivity, Inc.
MN

Productivity, Inc.

Entity: Subchapter S Corporation

Industry: Industrial Machinery and Equipment Merchant Wholesalers

Location: Minneapolis, MN

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Productivity, Inc. is a subchapter s corporation located at 15150 25th Ave N. in Minneapolis, Minnesota that received a Coronavirus-related PPP loan from the SBA of $4,888,145.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$4.89M

Jobs Retained:

250

Loan Approved:

2020-04-05

Lender:

BREMER BANK, NATIONAL ASSOCIATION

Productivity, Inc. in Minneapolis, MN received a Paycheck Protection Loan of $4.89M through BREMER BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Productivity, Inc.'s total 2019 payroll expenses were approximately $23.46M in order to qualify for the PPP loan amount received.

Based on their reported 250 jobs retained, this equals an estimated average yearly compensation of $93,852 per employee1.

Because the loan received by Productivity, Inc. is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Productivity, Inc. in Minneapolis, MN

Productivity, Inc.
15150 25th Ave N.
Minneapolis, MN 55447

Business Industry

Industrial Machinery and Equipment Merchant Wholesalers (NAICS code 423830)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MN-03

Similar Companies near Minneapolis

In the Minneapolis area, 6 businesses in the "Industrial Machinery and Equipment Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 61 employees (compared to this company's 250) and received an average PPP loan of $1,118,240 (compared to this company's $4.89M).

Industry PPP Comparison Statistics

Nationwide, 7,320 businesses in the "Industrial Machinery and Equipment Merchant Wholesalers" industry received a total of $1,713,685,837.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 15 employees, 94% lower than Productivity, Inc.'s reported 250 employees, and received an average PPP loan of $234,110, 95% lower than this company's loan of $4.89M.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan. All information displayed on this page is publicly available information under PPP loan guidelines, and is published unmodified, as provided by the SBA.

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Footnotes & Information

1. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.


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Source: www.federalpay.org/paycheck-protection-program/productivity-inc-minneapolis-mn