PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Quality Resource Group Inc, Plymouth, MN

ALERT: There are 2 PPP loans for a total of $3.22M in our database for businesses with the name "Quality Resource Group Inc" in Plymouth, MN. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Quality Resource Group Inc
MN

Quality Resource Group Inc

Entity: Subchapter S Corporation

Industry: Other Services Related to Advertising

Location: Plymouth, MN

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Quality Resource Group Inc is a subchapter s corporation located at 12795 16th Ave N in Plymouth, Minnesota that received a Coronavirus-related PPP loan from the SBA of $1,583,680.00 in January, 2021.

$ PPP Loan Information
Loan #3054228301

Loan Size:

$1.58M

Jobs Retained:

91

Loan Approved:

2021-01-21

Loan Status:

Ongoing Loan

Lender:

Old National Bank

Quality Resource Group Inc in Plymouth, MN received a Paycheck Protection Loan of $1.58M through Old National Bank, which was approved in January, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Quality Resource Group Inc's 2019 payroll expenses are estimated to be at least $7.6M.

Based on their reported 91 jobs retained, this equals an estimated average yearly compensation of $83,535 per employee1

Reported PPP Proceed Usage:

On the PPP application, Quality Resource Group Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,583,678
  • Utilities: $1

Business Information - Quality Resource Group Inc in Plymouth, MN

Quality Resource Group Inc
12795 16th Ave N
Plymouth, MN 55441

Business Industry:
Other Services Related to Advertising
NAICS code 541890

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: N

Rural / Urban: Urban

Hennepin County, MN — SBA Office 0508 — Congressional District: MN-03

Similar Companies near Plymouth

In the Plymouth area, 8 businesses in the "Other Services Related to Advertising" industry received a PPP loan. These local businesses reported an average of 15 employees (compared to this company's 91) and received an average PPP loan of $249,556 (compared to this company's $1.58M).

Industry PPP Comparison Statistics

Nationwide, 12,550 businesses in the "Other Services Related to Advertising" industry received a total of $692.9M 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 5 employees, 95% lower than Quality Resource Group Inc's reported 91 employees, and received an average PPP loan of $55,211, 97% lower than this company's loan of $1.58M.

SBA PPP loan data, payroll data, and salaries for Quality Resource Group, Inc
MN

Quality Resource Group, Inc

Entity: Subchapter S Corporation

Industry: Commercial Printing (except Screen and Books)

Location: Plymouth, MN

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Quality Resource Group, Inc is a subchapter s corporation located at 12795 16th Avenue N in Plymouth, Minnesota that received a Coronavirus-related PPP loan from the SBA of $1,638,100.00 in April, 2020.

$ PPP Loan Information
Loan #9282727007

Loan Size:

$1.64M

Jobs Retained:

109

Loan Approved:

2020-04-09

Loan Status:

Paid in Full or Forgiven

Lender:

Old National Bank

Quality Resource Group, Inc in Plymouth, MN received a Paycheck Protection Loan of $1.64M through Old National Bank, which was approved in April, 2020.

This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in February, 2021.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Quality Resource Group, Inc's 2019 payroll expenses are estimated to be at least $7.86M.

Based on their reported 109 jobs retained, this equals an estimated average yearly compensation of $72,137 per employee1

Reported PPP Proceed Usage:

On the PPP application, Quality Resource Group, Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,638,100

Business Information - Quality Resource Group, Inc in Plymouth, MN

Quality Resource Group, Inc
12795 16th Avenue N
Plymouth, MN 55441

Business Industry:
Commercial Printing (except Screen and Books)
NAICS code 323111

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: N

Rural / Urban: Urban

Hennepin County, MN — SBA Office 0508 — Congressional District: MN-03

Similar Companies near Plymouth

In the Plymouth area, 7 businesses in the "Commercial Printing (except Screen and Books)" industry received a PPP loan. These local businesses reported an average of 32 employees (compared to this company's 109) and received an average PPP loan of $441,721 (compared to this company's $1.64M).

Industry PPP Comparison Statistics

Nationwide, 23,988 businesses in the "Commercial Printing (except Screen and Books)" industry received a total of $3.07B 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, 89% lower than Quality Resource Group, Inc's reported 109 employees, and received an average PPP loan of $128,160, 92% lower than this company's loan of $1.64M.

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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. 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/quality-resource-group-inc-plymouth-mn