PPP Loan Data — Recon Boats, LLC, Iola, WI
Recon Boats, LLC
Entity: Limited Liability Company (LLC)
Location: Iola, WITweet This • Search All PPP Data
Recon Boats, LLC is a limited liability company (LLC) located at 2738 State Road 61 in Iola, Wisconsin that received a Coronavirus-related PPP loan from the SBA of $46,256.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bank First, N.A.
Recon Boats, LLC in Iola, WI received a Paycheck Protection Loan of $46,256 through Bank First, N.A., 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 December, 2020.
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, Recon Boats, LLC's 2019 payroll expenses are estimated to be at least $222,029.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $44,406 per employee1
Reported PPP Proceed Usage:
On the PPP application, Recon Boats, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,256
Business Information - Recon Boats, LLC in Iola, WI
2738 State Road 61
Iola, WI 54945
Other Nonferrous Metal Foundries (except Die-Casting)
NAICS code 331529
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 310 businesses in the "Other Nonferrous Metal Foundries (except Die-Casting)" industry received a total of $79.06M 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 23 employees, 360% higher than Recon Boats, LLC's reported 5 employees, and received an average PPP loan of $255,022, 451% higher than this company's loan of $46,256.
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Footnotes & Information
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