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PPP Loan Data — United Language Group Inc., Minneapolis, MN

SBA PPP loan data, payroll data, and salaries for United Language Group Inc.
MN

United Language Group Inc.

Entity: Corporation

Industry: Translation and Interpretation Services

Location: Minneapolis, MN

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United Language Group Inc. is a corporation located at 1600 Utica Ave S Ste 750 in Minneapolis, Minnesota that received a Coronavirus-related PPP loan from the SBA of $2,883,070.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.88M

Jobs Retained:

0 Unreported

Loan Approved:

2020-04-14

Lender:

BANK OF AMERICA, NATIONAL ASSOCIATION

United Language Group Inc. received a Paycheck Protection Loan of $2.88M through BANK OF AMERICA, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, United Language Group Inc.'s total 2019 payroll expenses were approximately $13.84M in order to qualify for the PPP loan amount received.

Unlike most businesses, United Language Group Inc.'s PPP data does not report the number of jobs retained by their receipt of the Paycheck Protection Loan (some banks did not release this infomation from their loan applications). Without this data, per-employee payrolls for this company cannot be estimated.

Because the loan received by United Language Group Inc. 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 - United Language Group Inc. in Minneapolis, MN

United Language Group Inc.
1600 Utica Ave S Ste 750
Minneapolis, MN 55416

Business Industry

Translation and Interpretation Services (NAICS code 541930)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MN-05

Similar Companies near Minneapolis

In the Minneapolis area, 3 businesses in the "Translation and Interpretation Services" industry received a PPP loan. These local businesses reported an average of 1 employees (compared to this company's 0) and received an average PPP loan of $966,700 (compared to this company's $2.88M).

Industry PPP Comparison Statistics

Nationwide, 2,799 businesses in the "Translation and Interpretation Services" industry received a total of $120,752,692.00 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 4 employees, and received an average PPP loan of $43,141, 99% lower than this company's loan of $2.88M.

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/united-language-group-inc-minneapolis-mn