PPP Loan Data — Color Ink Corporation, Council Bluffs, IA
Color Ink Corporation is a corporation located at 2802 Twin City Dr in Council Bluffs, Iowa that received a Coronavirus-related PPP loan from the SBA of $1,682,300.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:American National Bank
Color Ink Corporation in Council Bluffs, IA received a Paycheck Protection Loan of $1.68M through American National 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, Color Ink Corporation's 2019 payroll expenses are estimated to be at least $8.08M.
Based on their reported 174 jobs retained, this equals an estimated average yearly compensation of $46,408 per employee1
Reported PPP Proceed Usage:
On the PPP application, Color Ink Corporation reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,682,300
Business Information - Color Ink Corporation in Council Bluffs, IA
2802 Twin City Dr
Council Bluffs, IA 51501
NAICS code 111422
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 1,650 businesses in the "Floriculture Production" industry received a total of $189.51M 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 17 employees, 90% lower than Color Ink Corporation's reported 174 employees, and received an average PPP loan of $114,855, 93% lower than this company's loan of $1.68M.
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Footnotes & Information
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