PPP Loan Data — SAV Transportation Group Inc, Minneapolis, MN
SAV Transportation Group Inc is a corporation located at Po Box 480050 in Minneapolis, Minnesota that received a Coronavirus-related PPP loan from the SBA of $1,614,500.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 128 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Union Bank and Trust Company
SAV Transportation Group Inc in Minneapolis, MN received a Paycheck Protection Loan of $1.61M through Union Bank and Trust Company, 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, SAV Transportation Group Inc's 2019 payroll expenses are estimated to be at least $7.75M.
Based on their reported 128 jobs retained, this equals an estimated average yearly compensation of $60,544 per employee1
Reported PPP Proceed Usage:
On the PPP application, SAV Transportation Group Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,614,500
Business Information - SAV Transportation Group Inc in Minneapolis, MN
Po Box 480050
Minneapolis, MN 55448
General Freight Trucking, Local
NAICS code 484110
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: Y
Rural / Urban: Urban
Similar Companies near Minneapolis
In the Minneapolis area, 26 businesses in the "General Freight Trucking, Local" industry received a PPP loan. These local businesses reported an average of 14 employees (compared to this company's 128) and received an average PPP loan of $120,344 (compared to this company's $1.61M).
Similar Nearby Businesses Who Received PPP Funding:
David Digerness Trucking Company
Fast Deer Inc
On Time Delivery LLC
Rolson Trucking LLC
Fast Track Transfer Inc
Industry PPP Comparison Statistics
Nationwide, 175,867 businesses in the "General Freight Trucking, Local" industry received a total of $6.6B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 4 employees, 97% lower than SAV Transportation Group Inc's reported 128 employees, and received an average PPP loan of $37,520, 98% lower than this company's loan of $1.61M.
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Footnotes & Information
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