PPP Loan Data — Stanley Haas, Worthington, MN
Stanley Haas is a sole proprietorship located at 324 1/2 10th Street in Worthington, Minnesota that received a Coronavirus-related PPP loan from the SBA of $25,427.00 in July, 2020.
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 Status:Paid in Full or Forgiven
Lender:First State Bank Southwest
Stanley Haas in Worthington, MN received a Paycheck Protection Loan of $25,427 through First State Bank Southwest, which was approved in July, 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, Stanley Haas' 2019 payroll expenses are estimated to be at least $122,050.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $61,025 per employee1
Reported PPP Proceed Usage:
On the PPP application, Stanley Haas reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $18,777
- Rent: $6,650
Business Information - Stanley Haas in Worthington, MN
324 1/2 10th Street
Worthington, MN 56187
Offices of Dentists
NAICS code 621210
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Worthington
In the Worthington area, 4 businesses in the "Offices of Dentists" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 2) and received an average PPP loan of $82,105 (compared to this company's $25,427).
Similar Nearby Businesses Who Received PPP Funding:
Grant R. Sorenson DDS
Industry PPP Comparison Statistics
Nationwide, 173,521 businesses in the "Offices of Dentists" industry received a total of $14B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 8 employees, 300% higher than Stanley Haas' reported 2 employees, and received an average PPP loan of $80,703, 217% higher than this company's loan of $25,427.
FederalPay's PPP Information Policy
Footnotes & Information
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