PPP Loan Data — Supply Chain Solutions Inc., Minneapolis, MN
Supply Chain Solutions Inc.
Location: Minneapolis, MNTweet This • Search All PPP Data
Supply Chain Solutions Inc. is a corporation located at 2520 Coon Rapids Blvd Nw, Suite 250 in Minneapolis, Minnesota that received a Coronavirus-related PPP loan from the SBA of $114,100.00 in April, 2020.
$ PPP Loan Information
Lender:CHOICE FINANCIAL GROUP
Supply Chain Solutions Inc. received a Paycheck Protection Loan of $114,100 through CHOICE FINANCIAL GROUP, which was approved in April, 2020.
2019 Payroll Estimations based On PPP Amount:
Assuming all employees were paid over the $100k eligibility cap, the minimum number of employees this company must have had in 2019 to qualify for the loan range received is 0.
Based on standard PPP eligibility rules, Supply Chain Solutions Inc.'s total 2019 payroll expenses were approximately $547,680 in order to qualify for the PPP loan amount received.
Based on their reported 11 jobs retained, this equals an estimated average yearly compensation of $49,789 per employee1.
Business Information - Supply Chain Solutions Inc. in Minneapolis, MN
2520 Coon Rapids Blvd Nw, Suite 250
Minneapolis, MN 55433
All Other Professional, Scientific, and Technical Services (NAICS code 541990)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: MN-03
Similar Companies near Minneapolis
In the Minneapolis area, 8 businesses in the "All Other Professional, Scientific, and Technical Services" industry received a PPP loan. These local businesses reported an average of 10 employees (compared to this company's 11) and received an average PPP loan of $505,461 (compared to this company's $114,100).
Similar Nearby Businesses Who Received PPP Funding:
Schmidt & Ole Laboratory LLC
Spring Lake Park, MN
Betmar Languages, Inc.
Building Systems Solutions, Inc.
Health Dimensions Revenue Professionals, LLC
Metropolitan Cardiac Services
Coon Rapids, MN
Wcec Industrial Services LLC
Industry PPP Comparison Statistics
Nationwide, 63,722 businesses in the "All Other Professional, Scientific, and Technical Services" industry received a total of $4,746,522,934.00 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 6 employees, 45% lower than Supply Chain Solutions Inc.'s reported 11 employees, and received an average PPP loan of $74,488, 35% lower than this company's loan of $114,100.
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. 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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