PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Valley Transportation Service Inc, Grand Meadow, MN

ALERT: There are 2 PPP loans for a total of $4.53M in our database for businesses with the name "Valley Transportation Service Inc" in Grand Meadow, MN. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Valley Transportation Service Inc
MN

Valley Transportation Service Inc

Entity: Corporation

Industry: Specialized Freight (except Used Goods) Trucking, Long-Distance

Location: Grand Meadow, MN

Search All PPP Data

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:

$2M

Jobs Retained:

185

Loan Approved:

2021-02-04

Loan Status:

Ongoing Loan

Lender:

West Bank

Valley 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 More
Understanding 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 More

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, 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
Because the loan received by Valley Transportation Service 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 - Valley Transportation Service Inc in Grand Meadow, MN

Valley Transportation Service Inc
73137 State Highway 16
Grand Meadow, MN 55936

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

Mower County, MN — SBA Office 0508 — Congressional District: MN-01

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.

SBA PPP loan data, payroll data, and salaries for Valley Transportation Service Inc
MN

Valley Transportation Service Inc

Entity: Corporation

Industry: Specialized Freight (except Used Goods) Trucking, Local

Location: Grand Meadow, MN

Search All PPP Data

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:

$2.53M

Jobs Retained:

227

Loan Approved:

2020-04-09

Loan Status:

Ongoing Loan

Lender:

West Bank

Valley 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 More
Understanding 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 More

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, 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
Because the loan received by Valley Transportation Service 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 - Valley Transportation Service Inc in Grand Meadow, MN

Valley Transportation Service Inc
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

Mower County, MN — SBA Office 0508 — Congressional District: MN-01

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).

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.

Search FederalPay's Full PPP Loan Database

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/valley-transportation-service-inc-grand-meadow-mn