PPP Loan Data — Corwin Beverage Co, Ridgefield, WA
Corwin Beverage Co is a subchapter s corporation located at 219 S Timm Rd in Ridgefield, Washington that received a Coronavirus-related PPP loan from the SBA of $2,209,439.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Riverview Community Bank
Corwin Beverage Co in Ridgefield, WA received a Paycheck Protection Loan of $2.21M through Riverview Community Bank, 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 March, 2021.
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, Corwin Beverage Co's 2019 payroll expenses are estimated to be at least $10.61M.
Based on their reported 155 jobs retained, this equals an estimated average yearly compensation of $68,421 per employee1
Reported PPP Proceed Usage:
On the PPP application, Corwin Beverage Co reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,209,439
Business Information - Corwin Beverage Co in Ridgefield, WA
219 S Timm Rd
Ridgefield, WA 98642
Soft Drink Manufacturing
NAICS code 312111
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, 814 businesses in the "Soft Drink Manufacturing" industry received a total of $205.71M 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 23 employees, 85% lower than Corwin Beverage Co's reported 155 employees, and received an average PPP loan of $252,716, 89% lower than this company's loan of $2.21M.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!