PPP Loan Data — Sheet Metal Connectors Inc, Minneapolis, MN
Sheet Metal Connectors Inc is a subchapter s corporation located at 5850 Main St Ne in Minneapolis, Minnesota that received a Coronavirus-related PPP loan from the SBA of $2,483,600.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 147 people during the applicable loan loan period.
$ PPP Loan Information
Sheet Metal Connectors Inc received a Paycheck Protection Loan of $2.48M through NORTHEAST BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Sheet Metal Connectors Inc's total 2019 payroll expenses were approximately $11.92M in order to qualify for the PPP loan amount received.
Based on their reported 147 jobs retained, this equals an estimated average yearly compensation of $81,097 per employee1.
Business Information - Sheet Metal Connectors Inc in Minneapolis, MN
5850 Main St Ne
Minneapolis, MN 55432
Sheet Metal Work Manufacturing (NAICS code 332322)
Business Owner Demographics
Race / Ethnicity: WHITE
Gender: MALE OWNED
Veteran Status: NON-VETERANCongressional District: MN-05
Similar Companies near Minneapolis
In the Minneapolis area, 3 businesses in the "Sheet Metal Work Manufacturing" industry received a PPP loan. These local businesses reported an average of 83 employees (compared to this company's 147) and received an average PPP loan of $1,362,799 (compared to this company's $2.48M).
Similar Nearby Businesses Who Received PPP Funding:
Assurance MFG Co, Inc
LSV Metals Inc.
Spring Lake Park, MN
Industry PPP Comparison Statistics
Nationwide, 2,639 businesses in the "Sheet Metal Work Manufacturing" industry received a total of $793,668,527.00 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 21 employees, 86% lower than Sheet Metal Connectors Inc's reported 147 employees, and received an average PPP loan of $300,746, 88% lower than this company's loan of $2.48M.
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Footnotes & Information
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