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PPP Loan Data — Dennis Cole, Park River, ND

SBA PPP loan data, payroll data, and salaries for Dennis Cole
ND

Dennis Cole

Entity: Sole Proprietorship

Industry: Soybean Farming

Location: Park River, ND

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Dennis Cole is a sole proprietorship located in Park River, North Dakota that received a Coronavirus-related PPP loan from the SBA of $20,800.00 in March, 2021.

$ PPP Loan Information
Loan #2245948608

Loan Size:

$20,800

Jobs Retained:

1

Loan Approved:

2021-03-13

Loan Status:

Ongoing Loan

Lender:

First United Bank

Dennis Cole in Park River, ND received a Paycheck Protection Loan of $20,800 through First United Bank, which was approved in March, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.


PPP Calculation Note: The total PPP loan an eligible business or individual can receive is based on 2.5 times their average monthly 2019 payroll expenses, capped at $100,000 annually per employee.

Reported PPP Proceed Usage:

On the PPP application, Dennis Cole reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $20,800

Business Information - Dennis Cole in Park River, ND

Dennis Cole
Park River, ND
* Full address is redacted to protect the privacy of individuals.

Business Industry:
Soybean Farming
NAICS code 111110

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: Y

Rural / Urban: Rural

Walsh County, ND — SBA Office 0875 — Congressional District: ND-

Similar Companies near Park River

In the Park River area, 14 businesses in the "Soybean Farming" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 1) and received an average PPP loan of $26,463 (compared to this company's $20,800).

Industry PPP Comparison Statistics

Nationwide, 57,165 businesses in the "Soybean Farming" industry received a total of $1.13B 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 2 employees, 100% higher than Dennis Cole's reported 1 employees, and received an average PPP loan of $19,731, 5% lower than this company's loan of $20,800.

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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

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Footnotes & Information

1. Estimations for informational purposes only. 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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Source: www.federalpay.org/paycheck-protection-program/dennis-cole-park-river-nd