Cascade Lumber Company in Cascade, IA - SBA PPP Loan Data (Paycheck Protection Program)

PPP Loan Data — Cascade Lumber Company, Cascade, IA

Cascade Lumber Company

Entity: Corporation

Industry: Lumber, Plywood, Millwork, and Wood Panel Merchant Wholesalers

Location: Cascade, IA

Cascade Lumber Company is a corporation located at 1000 1st Ave E in Cascade, Iowa that received a Coronavirus-related PPP loan from the SBA of $2,586,700.00 in April, 2020.

The company has reported itself as a White male owned business, and employed at least 185 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$2.59M

Jobs Retained:

185

Loan Approved:

2020-04-03

Lender:

FARMERS & MERCHANTS SAVINGS BANK

Cascade Lumber Company received a Paycheck Protection Loan of $2.59M through FARMERS & MERCHANTS SAVINGS BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Cascade Lumber Company's total 2019 payroll expenses were approximately $12.42M in order to qualify for the PPP loan amount received.

Based on their reported 185 jobs retained, this equals an estimated average yearly compensation of $67,114 per employee¹.

Because the loan received by Cascade Lumber Company 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 - Cascade Lumber Company in Cascade, IA

Cascade Lumber Company
1000 1st Ave E
Cascade, IA 52033

Business Industry

Lumber, Plywood, Millwork, and Wood Panel Merchant Wholesalers (NAICS code 423310)

Business Owner Demographics

Race / Ethnicity: WHITE

Gender: MALE OWNED

Veteran Status: NON-VETERAN

Congressional District: IA-01

Industry PPP Comparison Statistics

Nationwide, 4,016 businesses in the "Lumber, Plywood, Millwork, and Wood Panel Merchant Wholesalers" industry received a total of $905,412,517.00 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 17 employees, 91% lower than Cascade Lumber Company's reported 185 employees, and received an average PPP loan of $225,451, 91% lower than this company's loan of $2.59M.

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.

Search FederalPay's Full PPP Loan Database

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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