PPP Loan Data — Raasch Consulting Inc, Ida Grove, IA
Raasch Consulting Inc is a corporation located at 517 2nd St in Ida Grove, Iowa that received a Coronavirus-related PPP loan from the SBA of $25,200.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least three people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:United Bank of Iowa
Raasch Consulting Inc in Ida Grove, IA received a Paycheck Protection Loan of $25,200 through United Bank of Iowa, 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 March, 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, Raasch Consulting Inc's 2019 payroll expenses are estimated to be at least $120,960.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,320 per employee1
Reported PPP Proceed Usage:
On the PPP application, Raasch Consulting Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $20,200
- Utilities: $500
- Rent: $4,500
Business Information - Raasch Consulting Inc in Ida Grove, IA
517 2nd St
Ida Grove, IA 51445
Other Accounting Services
NAICS code 541219
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 64,443 businesses in the "Other Accounting Services" industry received a total of $2.03B 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 3 employees, the same amount reported by Raasch Consulting Inc and received an average PPP loan of $31,571, 25% higher than this company's loan of $25,200.
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Footnotes & Information
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