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PPP Loan Data — Valley Transportation Service Inc,
Grand Meadow, MN
Valley Transportation Service Inc
Entity: Corporation
Industry: Specialized Freight (except Used Goods) Trucking, Long-Distance
Location: Grand Meadow, MN
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Valley Transportation Service Inc is a corporation located at 73137 State Highway 16 in Grand Meadow, Minnesota that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in February, 2021.
The company has reported itself as a White male owned business, and employed at least 185 people during the applicable loan loan period.
$ PPP Loan Information Loan #3028928404
Loan Size:
Jobs Retained:
185Loan Approved:
2021-02-04Loan Status:
Ongoing LoanLender:
West BankValley Transportation Service Inc in Grand Meadow, MN received a Paycheck Protection Loan of $2M through West Bank, which was approved in February, 2021.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Valley Transportation Service Inc's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 185 jobs retained, this equals an estimated average yearly compensation of $51,892 per employee1
Reported PPP Proceed Usage:
On the PPP application, Valley Transportation Service Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,998
- Utilities: $1
Business Information - Valley Transportation Service Inc in Grand Meadow, MN
73137 State Highway 16
Grand Meadow, MN 55936
Business Industry:
Specialized Freight (except Used Goods) Trucking, Long-Distance
NAICS code 484230
Business Owner Demographics
Race: White
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 14,053 businesses in the "Specialized Freight (except Used Goods) Trucking, Long-Distance" industry received a total of $993,212,195.00 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 6 employees, 97% lower than Valley Transportation Service Inc's reported 185 employees, and received an average PPP loan of $70,676, 96% lower than this company's loan of $2M.
Valley Transportation Service Inc
Entity: Corporation
Industry: Specialized Freight (except Used Goods) Trucking, Local
Location: Grand Meadow, MN
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Valley Transportation Service Inc is a corporation located at 73137 State Hwy 16 in Grand Meadow, Minnesota that received a Coronavirus-related PPP loan from the SBA of $2,531,303.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 227 people during the applicable loan loan period.
$ PPP Loan Information Loan #9958257009
Loan Size:
Jobs Retained:
227Loan Approved:
2020-04-09Loan Status:
Ongoing LoanLender:
West BankValley Transportation Service Inc in Grand Meadow, MN received a Paycheck Protection Loan of $2.53M through West Bank, which was approved in April, 2020.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Valley Transportation Service Inc's 2019 payroll expenses are estimated to be at least $12.15M.
Based on their reported 227 jobs retained, this equals an estimated average yearly compensation of $53,525 per employee1
Reported PPP Proceed Usage:
On the PPP application, Valley Transportation Service Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,531,303
Business Information - Valley Transportation Service Inc in Grand Meadow, MN
73137 State Hwy 16
Grand Meadow, MN 55936
Business Industry:
Specialized Freight (except Used Goods) Trucking, Local
NAICS code 484220
Business Owner Demographics
Race: White
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Rural
Similar Companies near Grand Meadow
In the Grand Meadow area, 3 businesses in the "Specialized Freight (except Used Goods) Trucking, Local" industry received a PPP loan. These local businesses reported an average of 76 employees (compared to this company's 227) and received an average PPP loan of $859,887 (compared to this company's $2.53M).
Similar Nearby Businesses Who Received PPP Funding:
Gene Landers
Grand Meadow, MN
Dallas & Debra Finseth
Fountain, MN
Industry PPP Comparison Statistics
Nationwide, 25,630 businesses in the "Specialized Freight (except Used Goods) Trucking, Local" industry received a total of $1,904,021,451.00 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 7 employees, 97% lower than Valley Transportation Service Inc's reported 227 employees, and received an average PPP loan of $74,289, 97% lower than this company's loan of $2.53M.
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.
Footnotes & Information
1. Estimations for informational purposes only. 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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