PPP Loan Data — Winona Heating & Ventilating Co., Inc., Winona, MN
Winona Heating & Ventilating Co., Inc.
Location: Winona, MNTweet This • Search All PPP Data
Winona Heating & Ventilating Co., Inc. is a corporation located at 374 E 2nd St in Winona, Minnesota that received a Coronavirus-related PPP loan from the SBA of $3,138,500.00 in April, 2020.
$ PPP Loan Information
Lender:MERCHANTS BANK, NATIONAL ASSOCIATION
Winona Heating & Ventilating Co., Inc. in Winona, MN received a Paycheck Protection Loan of $3.14M through MERCHANTS BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
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 126 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.
2019 Payroll Estimations based On PPP Amount:
Assuming all employees were paid over the $100k eligibility cap, the minimum number of employees this company must have had in 2019 to qualify for the loan range received is 151.
Based on standard PPP eligibility rules, Winona Heating & Ventilating Co., Inc.'s total 2019 payroll expenses were approximately $15.06M (not accounting for salary amounts > $100k) in order to qualify for the PPP loan amount received.
Because the 126 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Business Information - Winona Heating & Ventilating Co., Inc. in Winona, MN
374 E 2nd St
Winona, MN 55987
Plumbing, Heating, and Air-Conditioning Contractors (NAICS code 238220)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: MN-01
Similar Companies near Winona
In the Winona area, 9 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a PPP loan. These local businesses reported an average of 20 employees (compared to this company's 126) and received an average PPP loan of $420,301 (compared to this company's $3.14M).
Similar Nearby Businesses Who Received PPP Funding:
O'Laughlin Trucking & Excavating, Mechanical, LLC
Boomer's Quality Plumbing LLC
Mike Sherman Plumbing And Heating Inc
River City Heating And Air Conditioning LLC
Plumbers Mechanical Group LLC
Todds Refrigeration LLC
Harris Hvacr Inc
Industry PPP Comparison Statistics
Nationwide, 60,482 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a total of $9,373,583,135.00 in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 11 employees, 91% lower than Winona Heating & Ventilating Co., Inc.'s reported 126 employees, and received an average PPP loan of $154,981, 95% lower than this company's loan of $3.14M.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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