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PPP Loan Data — Astrup Drug Inc, Austin, MN

SBA PPP loan data, payroll data, and salaries for Astrup Drug Inc
MN

Astrup Drug Inc

Entity: Corporation

Industry: Pharmacies and Drug Stores

Location: Austin, MN

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Astrup Drug Inc is a corporation located at 905 N Main St in Austin, Minnesota that received a Coronavirus-related PPP loan from the SBA of $2,879,000.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.88M

Jobs Retained:

369

Loan Approved:

2020-04-07

Lender:

FLAGSHIP BANK MINNESOTA

Astrup Drug Inc received a Paycheck Protection Loan of $2.88M through FLAGSHIP BANK MINNESOTA, which was approved in April, 2020.

Based on standard PPP eligibility rules, Astrup Drug Inc's total 2019 payroll expenses were approximately $13.82M in order to qualify for the PPP loan amount received.

Based on their reported 369 jobs retained, this equals an estimated average yearly compensation of $37,450 per employee1.

Because the loan received by Astrup Drug Inc is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Astrup Drug Inc in Austin, MN

Astrup Drug Inc
905 N Main St
Austin, MN 55912

Business Industry

Pharmacies and Drug Stores (NAICS code 446110)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MN-01

Similar Companies near Austin

In the Austin area, 3 businesses in the "Pharmacies and Drug Stores" industry received a PPP loan. These local businesses reported an average of 137 employees (compared to this company's 369) and received an average PPP loan of $1,111,252 (compared to this company's $2.88M).

Industry PPP Comparison Statistics

Nationwide, 14,099 businesses in the "Pharmacies and Drug Stores" industry received a total of $1,400,178,844.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 10 employees, 97% lower than Astrup Drug Inc's reported 369 employees, and received an average PPP loan of $99,311, 97% lower than this company's loan of $2.88M.

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.

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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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/astrup-drug-inc-austin-mn