PPP Loan Data — Transocean Carriers Inc, Minneapolis, MN
Transocean Carriers Inc
Location: Minneapolis, MNTweet This • Search All PPP Data
Transocean Carriers Inc is a corporation located at 5701 Shingle Creek Parkway,620 in Minneapolis, Minnesota that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in May, 2020.
The company has reported itself as a male owned business, and employed at least seven people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Transocean Carriers Inc in Minneapolis, MN received a Paycheck Protection Loan of $25,000 through Customers Bank, which was approved in May, 2020.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
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, Transocean Carriers Inc's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 7 jobs retained, this equals an estimated average yearly compensation of $17,143 per employee1
Reported PPP Proceed Usage:
On the PPP application, Transocean Carriers Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Transocean Carriers Inc in Minneapolis, MN
5701 Shingle Creek Parkway,620
Minneapolis, MN 55430
Process, Physical Distribution, and Logistics Consulting Services
NAICS code 541614
Business Owner Demographics
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Minneapolis
In the Minneapolis area, 3 businesses in the "Process, Physical Distribution, and Logistics Consulting Services" industry received a PPP loan. These local businesses reported an average of 11 employees (compared to this company's 7) and received an average PPP loan of $203,311 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Graham Family Logistics Inc
Industry PPP Comparison Statistics
Nationwide, 10,517 businesses in the "Process, Physical Distribution, and Logistics Consulting Services" industry received a total of $920.57M 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 8 employees, 14% higher than Transocean Carriers Inc's reported 7 employees, and received an average PPP loan of $87,532, 250% higher than this company's loan of $25,000.
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