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

PPP Loan Data — Wayne Ratchenski, Cavalier, ND

ALERT: There are 2 PPP loans for a total of $49,872 in our database for businesses with the name "Wayne Ratchenski" in Cavalier, ND. 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 Wayne Ratchenski
ND

Wayne Ratchenski

Entity: Sole Proprietorship

Industry: Other Vegetable (except Potato) and Melon Farming

Location: Cavalier, ND

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Wayne Ratchenski is a sole proprietorship located in Cavalier, North Dakota that received a Coronavirus-related PPP loan from the SBA of $24,972.00 in March, 2021.

The company has reported itself as a male owned business, and employed at least one person during the applicable loan loan period.

$ PPP Loan Information
Loan #8217038508

Loan Size:

$24,972

Jobs Retained:

1

Loan Approved:

2021-03-09

Loan Status:

Ongoing Loan

Lender:

Choice Financial Group
Likely Employment Reduction3

Wayne Ratchenski in Cavalier, ND received a Paycheck Protection Loan of $24,972 through Choice Financial Group, which was approved in March, 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.

The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 1 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.

The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 1. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.


PPP Calculation Note: The total PPP loan an eligible business or individual can receive is based on 2.5 times their average monthly 2019 payroll expenses, capped at $100,000 annually per employee.

Reported PPP Proceed Usage:

On the PPP application, Wayne Ratchenski reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $24,971
  • Utilities: $1

Business Information - Wayne Ratchenski in Cavalier, ND

Wayne Ratchenski
Cavalier, ND
* Full address is redacted to protect the privacy of individuals.

Business Industry:
Other Vegetable (except Potato) and Melon Farming
NAICS code 111219

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Male Owned

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: Y

Rural / Urban: Rural

Pembina County, ND — SBA Office 0875 — Congressional District: ND-

Industry PPP Comparison Statistics

Nationwide, 5,617 businesses in the "Other Vegetable (except Potato) and Melon Farming" industry received a total of $452.09M 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, 1200% higher than Wayne Ratchenski's reported 1 employees, and received an average PPP loan of $80,486, 222% higher than this company's loan of $24,972.

SBA PPP loan data, payroll data, and salaries for Wayne Ratchenski
ND

Wayne Ratchenski

Entity: Sole Proprietorship

Industry: Other Vegetable (except Potato) and Melon Farming

Location: Cavalier, ND

Search All PPP Data

Wayne Ratchenski is a sole proprietorship located at 14255 Highway S in Cavalier, North Dakota that received a Coronavirus-related PPP loan from the SBA of $24,900.00 in April, 2020.

The company has reported itself as a male owned business, and employed at least two people during the applicable loan loan period.

$ PPP Loan Information
Loan #4207947305

Loan Size:

$24,900

Jobs Retained:

2

Loan Approved:

2020-04-29

Loan Status:

Paid in Full or Forgiven

Lender:

Choice Financial Group

Wayne Ratchenski in Cavalier, ND received a Paycheck Protection Loan of $24,900 through Choice Financial Group, 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 June, 2021.

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, Wayne Ratchenski's 2019 payroll expenses are estimated to be at least $119,520.

Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $59,760 per employee1

Reported PPP Proceed Usage:

On the PPP application, Wayne Ratchenski reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $24,900

Business Information - Wayne Ratchenski in Cavalier, ND

Wayne Ratchenski
14255 Highway S
Cavalier, ND 58220

Business Industry:
Other Vegetable (except Potato) and Melon Farming
NAICS code 111219

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Male Owned

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Rural

Pembina County, ND — SBA Office 0875 — Congressional District: ND-

Industry PPP Comparison Statistics

Nationwide, 5,617 businesses in the "Other Vegetable (except Potato) and Melon Farming" industry received a total of $452.09M 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, 550% higher than Wayne Ratchenski's reported 2 employees, and received an average PPP loan of $80,486, 223% higher than this company's loan of $24,900.

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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Source: www.federalpay.org/paycheck-protection-program/wayne-ratchenski-cavalier-nd