PPP Loan Data — College City Beverage, Inc, Dundas, MN
College City Beverage, Inc is a subchapter s corporation located at 700 S Railway St in Dundas, Minnesota that received a Coronavirus-related PPP loan from the SBA of $1,571,064.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Tradition Capital Bank
College City Beverage, Inc in Dundas, MN received a Paycheck Protection Loan of $1.57M through Tradition Capital Bank, which was approved in April, 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, College City Beverage, Inc's 2019 payroll expenses are estimated to be at least $7.54M.
Based on their reported 100 jobs retained, this equals an estimated average yearly compensation of $75,411 per employee1
Reported PPP Proceed Usage:
On the PPP application, College City Beverage, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,178,298
- Utilities: $78,553
- Rent: $314,213
Business Information - College City Beverage, Inc in Dundas, MN
700 S Railway St
Dundas, MN 55019
Beer and Ale Merchant Wholesalers
NAICS code 424810
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, 1,380 businesses in the "Beer and Ale Merchant Wholesalers" industry received a total of $608.99M 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, 60% lower than College City Beverage, Inc's reported 100 employees, and received an average PPP loan of $441,295, 72% lower than this company's loan of $1.57M.
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Footnotes & Information
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