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PPP Loan Data — The Wealshire, LLC, Medina, MN

SBA PPP loan data, payroll data, and salaries for The Wealshire, LLC
MN

The Wealshire, LLC

Entity: Limited Liability Company (LLC)

Industry: Unclassified Establishments

Location: Medina, MN

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The Wealshire, LLC is a limited liability company (LLC) located at 4555 Mohawk Drive in Medina, Minnesota that received a Coronavirus-related PPP loan from the SBA of $1,914,038.00 in April, 2020.

The company has reported itself as a White male owned business, and employed at least 231 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$1.91M

Jobs Retained:

231

Loan Approved:

2020-04-04

Lender:

NORTH AMERICAN BANKING COMPANY

The Wealshire, LLC received a Paycheck Protection Loan of $1.91M through NORTH AMERICAN BANKING COMPANY, which was approved in April, 2020.

Based on standard PPP eligibility rules, The Wealshire, LLC's total 2019 payroll expenses were approximately $9.19M in order to qualify for the PPP loan amount received.

Based on their reported 231 jobs retained, this equals an estimated average yearly compensation of $39,772 per employee1.

Business Information - The Wealshire, LLC in Medina, MN

The Wealshire, LLC
4555 Mohawk Drive
Medina, MN 55340

Business Industry

Unclassified Establishments (NAICS code 999990)

Business Owner Demographics

Race / Ethnicity: WHITE

Gender: MALE OWNED

Veteran Status: NON-VETERAN

Congressional District: MN-03

Similar Companies near Medina

In the Medina area, 7 businesses in the "Unclassified Establishments" industry received a PPP loan. These local businesses reported an average of 38 employees (compared to this company's 231) and received an average PPP loan of $301,479 (compared to this company's $1.91M).

Industry PPP Comparison Statistics

Nationwide, 86,245 businesses in the "Unclassified Establishments" industry received a total of $3,723,225,376.00 in PPP loans. These businesses account for 2% 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, 97% lower than The Wealshire, LLC's reported 231 employees, and received an average PPP loan of $43,170, 98% lower than this company's loan of $1.91M.

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. 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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/the-wealshire-llc-medina-mn