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PPP Loan Data — The Lindgren Group, Minneapolis, MN

SBA PPP loan data, payroll data, and salaries for The Lindgren Group
MN

The Lindgren Group

Entity: Subchapter S Corporation

Industry: Electroplating, Plating, Polishing, Anodizing, and Coloring

Location: Minneapolis, MN

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The Lindgren Group is a subchapter s corporation located at 2929 1st Ave S in Minneapolis, Minnesota that received a Coronavirus-related PPP loan from the SBA of $2,818,900.00 in April, 2020.

The company has reported itself as a male owned business, and employed at least 235 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$2.82M

Jobs Retained:

235

Loan Approved:

2020-04-11

Lender:

BREMER BANK, NATIONAL ASSOCIATION

The Lindgren Group received a Paycheck Protection Loan of $2.82M through BREMER BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, The Lindgren Group's total 2019 payroll expenses were approximately $13.53M in order to qualify for the PPP loan amount received.

Based on their reported 235 jobs retained, this equals an estimated average yearly compensation of $57,578 per employee1.

Because the loan received by The Lindgren Group is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - The Lindgren Group in Minneapolis, MN

The Lindgren Group
2929 1st Ave S
Minneapolis, MN 55408

Business Industry

Electroplating, Plating, Polishing, Anodizing, and Coloring (NAICS code 332813)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: MALE OWNED

Veteran Status: Unreported

Congressional District: MN-05

Industry PPP Comparison Statistics

Nationwide, 1,173 businesses in the "Electroplating, Plating, Polishing, Anodizing, and Coloring" industry received a total of $327,636,253.00 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 24 employees, 90% lower than The Lindgren Group's reported 235 employees, and received an average PPP loan of $279,315, 90% lower than this company's loan of $2.82M.

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.

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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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Source: www.federalpay.org/paycheck-protection-program/the-lindgren-group-minneapolis-mn