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 Po Box 77 in Winona, Minnesota that received a Coronavirus-related PPP loan from the SBA of $3,138,500.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
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.
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 July, 2021.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.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 151. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
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, Winona Heating & Ventilating Co., Inc's 2019 payroll expenses are estimated to be at least $15.06M (not accounting for salary amounts > $100k).
Because the 126 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Reported PPP Proceed Usage:
On the PPP application, Winona Heating & Ventilating Co., Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $3,065,000
- Utilities: $7,500
- Rent: $66,000
Business Information - Winona Heating & Ventilating Co., Inc in Winona, MN
374 E 2nd St Po Box 77
Winona, MN 55987
Plumbing, Heating, and Air-Conditioning Contractors
NAICS code 238220
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Winona
In the Winona area, 11 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a PPP loan. These local businesses reported an average of 30 employees (compared to this company's 126) and received an average PPP loan of $526,032 (compared to this company's $3.14M).
Similar Nearby Businesses Who Received PPP Funding:
Winona Heating @ Ventilating Co. Inc
River City Heating And Air Conditioning LLC
Boomer's Quality Plumbing LLC
Harris Hvacr Inc
Todds Refrigeration LLC
Plumbers Mechanical Group LLC
Mike Sherman Plumbing And Heating Inc
O'laughlin Trucking & Excavating, Mechanical, LLC
Industry PPP Comparison Statistics
Nationwide, 103,883 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a total of $13.03B 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 10 employees, 92% lower than Winona Heating & Ventilating Co., Inc's reported 126 employees, and received an average PPP loan of $125,397, 96% 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.
Have FederalPay.org's open data tools been valuable? Consider donating!