PPP Loan Data — Christopher & Banks Corporation, Minneapolis, MN
Christopher & Banks Corporation
Location: Minneapolis, MNTweet This • Search All PPP Data
Christopher & Banks Corporation is a corporation located at 2400 Xenium Ln N in Minneapolis, Minnesota that received a Coronavirus-related PPP loan from the SBA of $10,000,000.00 in May, 2020.
$ PPP Loan Information
Lender:CACHE VALLEY BANK
Christopher & Banks Corporation in Minneapolis, MN received a Paycheck Protection Loan of $10M through CACHE VALLEY BANK, which was approved in May, 2020.
Based on standard PPP eligibility rules, Christopher & Banks Corporation's total 2019 payroll expenses were approximately $48M in order to qualify for the PPP loan amount received.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $96,000 per employee1.
Business Information - Christopher & Banks Corporation in Minneapolis, MN
2400 Xenium Ln N
Minneapolis, MN 55441
All Other Miscellaneous Store Retailers (except Tobacco Stores) (NAICS code 453998)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: MN-03
Similar Companies near Minneapolis
In the Minneapolis area, 4 businesses in the "All Other Miscellaneous Store Retailers (except Tobacco Stores)" industry received a PPP loan. These local businesses reported an average of 139 employees (compared to this company's 500) and received an average PPP loan of $2,736,866 (compared to this company's $10M).
Similar Nearby Businesses Who Received PPP Funding:
Performance Pool & Spa, Inc.
Industry PPP Comparison Statistics
Nationwide, 67,030 businesses in the "All Other Miscellaneous Store Retailers (except Tobacco Stores)" industry received a total of $3,394,491,072.00 in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 6 employees, 99% lower than Christopher & Banks Corporation's reported 500 employees, and received an average PPP loan of $50,641, 99% lower than this company's loan of $10M.
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, and is published unmodified, as provided by the SBA.
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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