PPP Loan Data — Waconia Tree Farm, Excelsior, MN
Waconia Tree Farm is a limited liability company (LLC) located at 15 Brentwood Ave in Excelsior, Minnesota that received a Coronavirus-related PPP loan from the SBA of $45,800.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least ten people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:First Minnetonka City Bank
Waconia Tree Farm in Excelsior, MN received a Paycheck Protection Loan of $45,800 through First Minnetonka City Bank, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in April, 2021.
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, Waconia Tree Farm's 2019 payroll expenses are estimated to be at least $219,840.
Based on their reported 10 jobs retained, this equals an estimated average yearly compensation of $21,984 per employee1
Reported PPP Proceed Usage:
On the PPP application, Waconia Tree Farm reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $35,800
- Debt Interest: $10,000
Business Information - Waconia Tree Farm in Excelsior, MN
15 Brentwood Ave
Excelsior, MN 55331
Nursery and Tree Production
NAICS code 111421
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Excelsior
In the Excelsior area, 3 businesses in the "Nursery and Tree Production" industry received a PPP loan. These local businesses reported an average of 12 employees (compared to this company's 10) and received an average PPP loan of $90,861 (compared to this company's $45,800).
Similar Nearby Businesses Who Received PPP Funding:
B & B Hoffman Sod Farms, Inc
Elk River, MN
Nathe Ventures Inc
Industry PPP Comparison Statistics
Nationwide, 4,979 businesses in the "Nursery and Tree Production" industry received a total of $531.73M 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 15 employees, 50% higher than Waconia Tree Farm's reported 10 employees, and received an average PPP loan of $106,795, 133% higher than this company's loan of $45,800.
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Footnotes & Information
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