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PPP Loan Data — Turner Mining Group, Bloomington, IN

SBA PPP loan data, payroll data, and salaries for Turner Mining Group
IN

Turner Mining Group

Entity: Limited Liability Company (LLC)

Industry: Support Activities for Nonmetallic Minerals (except Fuels) Mining

Location: Bloomington, IN

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Turner Mining Group is a limited liability company (LLC) located at 304 W Kirkwood Ave in Bloomington, Indiana that received a Coronavirus-related PPP loan from the SBA of $2,975,000.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.98M

Jobs Retained:

167

Loan Approved:

2020-04-05

Lender:

GERMAN AMERICAN BANK

Turner Mining Group in Bloomington, IN received a Paycheck Protection Loan of $2.98M through GERMAN AMERICAN BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Turner Mining Group's total 2019 payroll expenses were approximately $14.28M in order to qualify for the PPP loan amount received.

Based on their reported 167 jobs retained, this equals an estimated average yearly compensation of $85,509 per employee1.

Because the loan received by Turner Mining 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 - Turner Mining Group in Bloomington, IN

Turner Mining Group
304 W Kirkwood Ave
Bloomington, IN 47404

Business Industry

Support Activities for Nonmetallic Minerals (except Fuels) Mining (NAICS code 213115)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: IN-09

Industry PPP Comparison Statistics

Nationwide, 99 businesses in the "Support Activities for Nonmetallic Minerals (except Fuels) Mining" industry received a total of $12,013,903.00 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 9 employees, 95% lower than Turner Mining Group's reported 167 employees, and received an average PPP loan of $121,353, 96% lower than this company's loan of $2.98M.

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/turner-mining-group-bloomington-in