PPP Loan Data — VAA LLC, Minneapolis, MN
VAA LLC is a limited liability company (LLC) located at 2300 Berkshire Ln N Suite 200 in Minneapolis, Minnesota that received a Coronavirus-related PPP loan from the SBA of $2,258,700.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Associated Bank, National Association
VAA LLC in Minneapolis, MN received a Paycheck Protection Loan of $2.26M through Associated Bank, National Association, which was approved in April, 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, VAA LLC's 2019 payroll expenses are estimated to be at least $10.84M.
Based on their reported 140 jobs retained, this equals an estimated average yearly compensation of $77,441 per employee1
Reported PPP Proceed Usage:
On the PPP application, VAA LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,258,700
Business Information - VAA LLC in Minneapolis, MN
2300 Berkshire Ln N Suite 200
Minneapolis, MN 55441
NAICS code 541330
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Minneapolis
In the Minneapolis area, 10 businesses in the "Engineering Services" industry received a PPP loan. These local businesses reported an average of 46 employees (compared to this company's 140) and received an average PPP loan of $842,151 (compared to this company's $2.26M).
Similar Nearby Businesses Who Received PPP Funding:
2Gmd Group LLC
Lindell Engineering Inc
The Hanson Group LLC
Hedlund Automation LLC
Engineering Unlimited, Inc
EXB Solutions, Inc
Cybertrol Engineering, LLC
Anderson Engineering Of Minnes
Industry PPP Comparison Statistics
Nationwide, 47,152 businesses in the "Engineering Services" industry received a total of $9.19B 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 13 employees, 91% lower than VAA LLC's reported 140 employees, and received an average PPP loan of $194,873, 91% lower than this company's loan of $2.26M.
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Footnotes & Information
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