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PPP Loan Data — Sema Equipment, Inc, Grand Meadow, MN

SBA PPP loan data, payroll data, and salaries for Sema Equipment, Inc
MN

Sema Equipment, Inc

Entity: Corporation

Industry: Farm and Garden Machinery and Equipment Merchant Wholesalers

Location: Grand Meadow, MN

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Sema Equipment, Inc is a corporation located at 505 4th Ave Ne in Grand Meadow, Minnesota that received a Coronavirus-related PPP loan from the SBA of $2,795,262.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.8M

Jobs Retained:

175

Loan Approved:

2020-04-10

Lender:

MERCHANTS BANK, NATIONAL ASSOCIATION

Sema Equipment, Inc received a Paycheck Protection Loan of $2.8M through MERCHANTS BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Sema Equipment, Inc's total 2019 payroll expenses were approximately $13.42M in order to qualify for the PPP loan amount received.

Based on their reported 175 jobs retained, this equals an estimated average yearly compensation of $76,670 per employee1.

Because the loan received by Sema Equipment, Inc is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Sema Equipment, Inc in Grand Meadow, MN

Sema Equipment, Inc
505 4th Ave Ne
Grand Meadow, MN 55936

Business Industry

Farm and Garden Machinery and Equipment Merchant Wholesalers (NAICS code 423820)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MN-01

Similar Companies near Grand Meadow

In the Grand Meadow area, 2 businesses in the "Farm and Garden Machinery and Equipment Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 97 employees (compared to this company's 175) and received an average PPP loan of $1,464,581 (compared to this company's $2.8M).

Similar Nearby Businesses Who Received PPP Funding:

J&S Repair Inc.
Grand Meadow, MN

$133,900 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 2,270 businesses in the "Farm and Garden Machinery and Equipment Merchant Wholesalers" industry received a total of $573,983,487.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 19 employees, 89% lower than Sema Equipment, Inc's reported 175 employees, and received an average PPP loan of $252,856, 91% lower than this company's loan of $2.8M.

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.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. 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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/sema-equipment-inc-grand-meadow-mn