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PPP Loan Data — Scott Archer Construction,
Blooming Prairie, MN
Scott Archer Construction
Entity: Limited Liability Company (LLC)
Industry: New Single-Family Housing Construction (except For-Sale Builders)
Location: Blooming Prairie, MN
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Scott Archer Construction is a limited liability company (LLC) located at 6481 Highway 30 E in Blooming Prairie, Minnesota that received a Coronavirus-related PPP loan from the SBA of $19,620.00 in January, 2021.
The company has reported itself as a male owned business, and employed at least two people during the applicable loan loan period.
$
PPP Loan Information
Loan #6705848308
Loan Size:
Jobs Retained:
2Loan Approved:
2021-01-27Loan Status:
Paid in Full or ForgivenLender:
Manufacturers Bank & Trust CompanyScott Archer Construction in Blooming Prairie, MN received a Paycheck Protection Loan of $19,620 through Manufacturers Bank & Trust Company, which was approved in January, 2021.
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 September, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Scott Archer Construction's 2019 payroll expenses are estimated to be at least $94,176.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $47,088 per employee1
Reported PPP Proceed Usage:
On the PPP application, Scott Archer Construction reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $19,619
- Utilities: $1
Business Information - Scott Archer Construction in Blooming Prairie, MN
6481 Highway 30 E
Blooming Prairie, MN 55917
Business Industry:
New Single-Family Housing Construction (except For-Sale Builders)
NAICS code 236115
Business Owner Demographics
Race: Unreported
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: Y
Rural / Urban: Rural
Businesses Using Same Address:
There is one other business that received a PPP loan registered to the same address as Scott Archer Construction.
Scott Archer Construction, LLC
New Single-Family Housing Construction (except For-Sale Builders)
Similar Companies near Blooming Prairie
In the Blooming Prairie area, 12 businesses in the "New Single-Family Housing Construction (except For-Sale Builders)" industry received a PPP loan. These local businesses reported an average of 1 employees (compared to this company's 2) and received an average PPP loan of $9,422 (compared to this company's $19,620).
Similar Nearby Businesses Who Received PPP Funding:
Jeffrey Foster
Brownsdale, MN
Heath Lembke Construction
Blooming Prairie, MN
Joseph J Suchanek
Blooming Prairie, MN
Steven G. Vaith Construction Inc
Blooming Prairie, MN
Bryce Johnson
Brownsdale, MN
Epic Contracting LLC
Blooming Prairie, MN
Scott Archer Construction, LLC
Blooming Prairie, MN
Benjamin K. Offner
Brownsdale, MN
Industry PPP Comparison Statistics
Nationwide, 125,433 businesses in the "New Single-Family Housing Construction (except For-Sale Builders)" industry received a total of $5.71B 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 5 employees, 150% higher than Scott Archer Construction's reported 2 employees, and received an average PPP loan of $45,486, 132% higher than this company's loan of $19,620.
FederalPay's PPP Information Policy
Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.
All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
Footnotes & Information
1. Estimations for informational purposes only. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.
2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.
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