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PPP Loan Data — The Minnesota Orchestral Association, Minneapolis, MN

SBA PPP loan data, payroll data, and salaries for The Minnesota Orchestral Association
MN Nonprofit Organization

The Minnesota Orchestral Association

Entity: Non-profit Organization

Industry: Musical Groups and Artists

Location: Minneapolis, MN

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The Minnesota Orchestral Association is a non-profit organization located at 111 Nicollet Mall in Minneapolis, Minnesota that received a Coronavirus-related PPP loan from the SBA of $4,503,852.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$4.5M

Jobs Retained:

423

Loan Approved:

2020-04-15

Lender:

U.S. BANK, NATIONAL ASSOCIATION

The Minnesota Orchestral Association in Minneapolis, MN received a Paycheck Protection Loan of $4.5M through U.S. BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, The Minnesota Orchestral Association's total 2019 payroll expenses were approximately $21.62M in order to qualify for the PPP loan amount received.

Based on their reported 423 jobs retained, this equals an estimated average yearly compensation of $51,108 per employee1.

Because the loan received by The Minnesota Orchestral Association 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 Minnesota Orchestral Association in Minneapolis, MN

The Minnesota Orchestral Association
111 Nicollet Mall
Minneapolis, MN 55403

Business Industry

Musical Groups and Artists (NAICS code 711130)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MN-05

Similar Companies near Minneapolis

In the Minneapolis area, 8 businesses in the "Musical Groups and Artists" industry received a PPP loan. These local businesses reported an average of 62 employees (compared to this company's 423) and received an average PPP loan of $619,091 (compared to this company's $4.5M).

Industry PPP Comparison Statistics

Nationwide, 6,520 businesses in the "Musical Groups and Artists" industry received a total of $269,690,233.00 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 6 employees, 99% lower than The Minnesota Orchestral Association's reported 423 employees, and received an average PPP loan of $41,364, 99% lower than this company's loan of $4.5M.

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, and is published unmodified, as provided by the SBA.

Search FederalPay's Full PPP Loan Database

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-minnesota-orchestral-association-minneapolis-mn