PPP Loan Data — R.l. Larson Excavating, Inc, Saint Cloud, MN
R.l. Larson Excavating, Inc
Entity: Subchapter S Corporation
Location: Saint Cloud, MNTweet This • Search All PPP Data
R.l. Larson Excavating, Inc is a subchapter s corporation located at 2255 12th Street Se in Saint Cloud, Minnesota that received a Coronavirus-related PPP loan from the SBA of $1,563,500.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bremer Bank, National Association
R.l. Larson Excavating, Inc in Saint Cloud, MN received a Paycheck Protection Loan of $1.56M through Bremer Bank, National Association, 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
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, R.l. Larson Excavating, Inc's 2019 payroll expenses are estimated to be at least $7.5M.
Based on their reported 81 jobs retained, this equals an estimated average yearly compensation of $92,652 per employee1
Reported PPP Proceed Usage:
On the PPP application, R.l. Larson Excavating, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,563,500
Business Information - R.l. Larson Excavating, Inc in Saint Cloud, MN
2255 12th Street Se
Saint Cloud, MN 56304
Water and Sewer Line and Related Structures Construction
NAICS code 237110
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, 8,904 businesses in the "Water and Sewer Line and Related Structures Construction" industry received a total of $1.93B 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 17 employees, 79% lower than R.l. Larson Excavating, Inc's reported 81 employees, and received an average PPP loan of $216,804, 86% lower than this company's loan of $1.56M.
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Footnotes & Information
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