PPP Loan Data — Farmers, Union Industries, LLC, Redwood Falls, MN
Farmers, Union Industries, LLC is a partnership located at 220 Ponderosa Rd in Redwood Falls, Minnesota that received a Coronavirus-related PPP loan from the SBA of $7,058,600.00 in April, 2020.
$ PPP Loan Information
Farmers, Union Industries, LLC received a Paycheck Protection Loan of $7.06M through MINNWEST BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Farmers, Union Industries, LLC's total 2019 payroll expenses were approximately $33.88M in order to qualify for the PPP loan amount received.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $67,763 per employee1.
Business Information - Farmers, Union Industries, LLC in Redwood Falls, MN
220 Ponderosa Rd
Redwood Falls, MN 56283
Rendering and Meat Byproduct Processing (NAICS code 311613)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: MN-07
Industry PPP Comparison Statistics
Nationwide, 104 businesses in the "Rendering and Meat Byproduct Processing" industry received a total of $33,012,645.00 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 28 employees, 94% lower than Farmers, Union Industries, LLC's reported 500 employees, and received an average PPP loan of $317,429, 96% lower than this company's loan of $7.06M.
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.
Footnotes & Information
1. 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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