PPP Loan Data — Silvercare LLC, St Louis Park, MN
Silvercare LLC is a limited liability company (LLC) located at 5402 Parkdale Dr Suite 301 in St Louis Park, Minnesota that received a Coronavirus-related PPP loan from the SBA of $566,062.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bremer Bank, National Association
Silvercare LLC in St Louis Park, MN received a Paycheck Protection Loan of $566,062 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 July, 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, Silvercare LLC's 2019 payroll expenses are estimated to be at least $2.72M.
Based on their reported 120 jobs retained, this equals an estimated average yearly compensation of $22,642 per employee1
Reported PPP Proceed Usage:
On the PPP application, Silvercare LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $566,062
Business Information - Silvercare LLC in St Louis Park, MN
5402 Parkdale Dr Suite 301
St Louis Park, MN 55416
Residential Property Managers
NAICS code 531311
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near St Louis Park
In the St Louis Park area, 18 businesses in the "Residential Property Managers" industry received a PPP loan. These local businesses reported an average of 73 employees (compared to this company's 120) and received an average PPP loan of $513,469 (compared to this company's $566,062).
Similar Nearby Businesses Who Received PPP Funding:
Robert L. Larson
MBG Property Management, Inc
Twin Cities Builders & Maintenance
Saturday Properties LLC
St Louis Park, MN
Wrights Way Inc
Silvercrest Dining Services Corp
St. Louis Park, MN
Blue Sky Assets, LLC
Real Solution LLC
Industry PPP Comparison Statistics
Nationwide, 35,979 businesses in the "Residential Property Managers" industry received a total of $3.03B 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 9 employees, 93% lower than Silvercare LLC's reported 120 employees, and received an average PPP loan of $84,237, 85% lower than this company's loan of $566,062.
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Footnotes & Information
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