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PPP Loan Data — Tech Mix, LLC, Stewart, MN

SBA PPP loan data, payroll data, and salaries for Tech Mix, LLC
MN

Tech Mix, LLC

Entity: Partnership

Industry: Support Activities for Animal Production

Location: Stewart, MN

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Tech Mix, LLC is a partnership located at 740 Bowman Street in Stewart, Minnesota that received a Coronavirus-related PPP loan from the SBA of $507,300.00 in April, 2020.

$ PPP Loan Information
Loan #4638867002

Loan Size:

$507,300

Jobs Retained:

35

Loan Approved:

2020-04-04

Loan Status:

Paid in Full or Forgiven

Lender:

Sentry Bank

Tech Mix, LLC in Stewart, MN received a Paycheck Protection Loan of $507,300 through Sentry Bank, 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 December, 2020.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Tech Mix, LLC's 2019 payroll expenses are estimated to be at least $2.44M.

Based on their reported 35 jobs retained, this equals an estimated average yearly compensation of $69,573 per employee1

Reported PPP Proceed Usage:

On the PPP application, Tech Mix, LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $410,250
  • Utilities: $15,000
  • Rent: $82,050

Business Information - Tech Mix, LLC in Stewart, MN

Tech Mix, LLC
740 Bowman Street
Stewart, MN 55385

Business Industry:
Support Activities for Animal Production
NAICS code 115210

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Rural

Mcleod County, MN — SBA Office 0508 — Congressional District: MN-07

Businesses Using Same Address:

There are 2 other businesses that received a PPP loan registered to the same address as Tech Mix, LLC.

Ingredient Transport LLC
Specialized Freight (except Used Goods) Trucking, Long-Distance

$167,200 PPP Loan

Forma A Feed, Inc
Other Animal Food Manufacturing

$3.42M PPP Loan

Industry PPP Comparison Statistics

Nationwide, 9,037 businesses in the "Support Activities for Animal Production" industry received a total of $277.38M 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 4 employees, 89% lower than Tech Mix, LLC's reported 35 employees, and received an average PPP loan of $30,694, 94% lower than this company's loan of $507,300.

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.

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Footnotes & Information

1. Estimations for informational purposes only. 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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Source: www.federalpay.org/paycheck-protection-program/tech-mix-llc-stewart-mn