PPP Loan Data — Central Container Corporation, Minneapolis, MN
Central Container Corporation is a corporation located at 3901 85th Ave N in Minneapolis, Minnesota that received a Coronavirus-related PPP loan from the SBA of $1,611,400.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bremer Bank, National Association
Central Container Corporation in Minneapolis, MN received a Paycheck Protection Loan of $1.61M through Bremer 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 December, 2020.
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, Central Container Corporation's 2019 payroll expenses are estimated to be at least $7.73M.
Based on their reported 119 jobs retained, this equals an estimated average yearly compensation of $64,998 per employee1
Reported PPP Proceed Usage:
On the PPP application, Central Container Corporation reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,611,400
Business Information - Central Container Corporation in Minneapolis, MN
3901 85th Ave N
Minneapolis, MN 55443
Corrugated and Solid Fiber Box Manufacturing
NAICS code 322211
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 713 businesses in the "Corrugated and Solid Fiber Box Manufacturing" industry received a total of $322.85M 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 40 employees, 66% lower than Central Container Corporation's reported 119 employees, and received an average PPP loan of $452,804, 72% lower than this company's loan of $1.61M.
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Footnotes & Information
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