PPP Loan Data — Ralph Welch, Hazelton, ND
Ralph Welch is a sole proprietorship located in Hazelton, North Dakota that received a Coronavirus-related PPP loan from the SBA of $25,372.00 in January, 2021.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Farm Credit Services of Mandan
Ralph Welch in Hazelton, ND received a Paycheck Protection Loan of $25,372 through Farm Credit Services of Mandan, 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, Ralph Welch reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,372
Business Information - Ralph Welch in Hazelton, ND
* Full address is redacted to protect the privacy of individuals.
Beef Cattle Ranching and Farming
NAICS code 112111
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Rural
Similar Companies near Hazelton
In the Hazelton area, 86 businesses in the "Beef Cattle Ranching and 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 $15,667 (compared to this company's $25,372).
Similar Nearby Businesses Who Received PPP Funding:
Ryan James Miller
Terrell M Strom
Industry PPP Comparison Statistics
Nationwide, 215,770 businesses in the "Beef Cattle Ranching and Farming" industry received a total of $2.8B in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 0% of the total PPP funding allocated.
PPP recipients in this industry report an average of 1 employees, the same amount reported by Ralph Welch and received an average PPP loan of $12,970, 49% lower than this company's loan of $25,372.
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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