PPP Loan Data — Cortec Corp., Saint Paul, MN
Location: Saint Paul, MNTweet This • Search All PPP Data
Cortec Corp. is a corporation located at 4119 White Bear Parkway in Saint Paul, Minnesota that received a Coronavirus-related PPP loan from the SBA of $2,613,660.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 165 people during the applicable loan loan period.
$ PPP Loan Information
Lender:U.S. BANK, NATIONAL ASSOCIATION
Cortec Corp. received a Paycheck Protection Loan of $2.61M through U.S. BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Cortec Corp.'s total 2019 payroll expenses were approximately $12.55M in order to qualify for the PPP loan amount received.
Based on their reported 165 jobs retained, this equals an estimated average yearly compensation of $76,034 per employee1.
Business Information - Cortec Corp. in Saint Paul, MN
4119 White Bear Parkway
Saint Paul, MN 55110
All Other Miscellaneous Chemical Product and Preparation Manufacturing (NAICS code 325998)
Business Owner Demographics
Race / Ethnicity: WHITE
Gender: MALE OWNED
Veteran Status: NON-VETERANCongressional District: MN-04
Industry PPP Comparison Statistics
Nationwide, 1,244 businesses in the "All Other Miscellaneous Chemical Product and Preparation Manufacturing" industry received a total of $327,617,499.00 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 18 employees, 89% lower than Cortec Corp.'s reported 165 employees, and received an average PPP loan of $263,358, 90% lower than this company's loan of $2.61M.
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Footnotes & Information
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