PPP Loan Data — Wcec Industrial Services LLC, Minneapolis, MN
Wcec Industrial Services LLC
Entity: Limited Liability Company (LLC)
Location: Minneapolis, MNTweet This • Search All PPP Data
Wcec Industrial Services LLC is a limited liability company (LLC) located at 1241 72nd Ave. Ne in Minneapolis, Minnesota that received a Coronavirus-related PPP loan from the SBA of $377,700.00 in April, 2020.
The company has reported itself as a Black or african american male owned business, and employed at least 28 people during the applicable loan loan period.
$ PPP Loan Information
Lender:CITIZENS COMMUNITY FEDERAL NATIONAL ASSOCIATION
Wcec Industrial Services LLC received a Paycheck Protection Loan of $377,700 through CITIZENS COMMUNITY FEDERAL NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Wcec Industrial Services LLC's total 2019 payroll expenses were approximately $1.81M in order to qualify for the PPP loan amount received.
Based on their reported 28 jobs retained, this equals an estimated average yearly compensation of $64,749 per employee1.
Business Information - Wcec Industrial Services LLC in Minneapolis, MN
1241 72nd Ave. Ne
Minneapolis, MN 55432
All Other Professional, Scientific, and Technical Services (NAICS code 541990)
Business Owner Demographics
Race / Ethnicity: BLACK OR AFRICAN AMERICAN
Gender: MALE OWNED
Veteran Status: UnreportedCongressional District: MN-05
Similar Companies near Minneapolis
In the Minneapolis area, 12 businesses in the "All Other Professional, Scientific, and Technical Services" industry received a PPP loan. These local businesses reported an average of 8 employees (compared to this company's 28) and received an average PPP loan of $349,528 (compared to this company's $377,700).
Similar Nearby Businesses Who Received PPP Funding:
Stevens, Foster Financial Services, Inc.
Metropolitan Cardiac Services
Coon Rapids, MN
Betmar Languages, Inc.
Leonine Technologies Inc.
T3 Trans, LLC
Spring Lake Park, MN
Schmidt & Ole Laboratory LLC
Industry PPP Comparison Statistics
Nationwide, 63,722 businesses in the "All Other Professional, Scientific, and Technical Services" industry received a total of $4,746,522,934.00 in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 6 employees, 79% lower than Wcec Industrial Services LLC's reported 28 employees, and received an average PPP loan of $74,488, 80% lower than this company's loan of $377,700.
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. 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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