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PPP Loan Data — Farmers, Union Industries, LLC, Redwood Falls, MN

SBA PPP loan data, payroll data, and salaries for Farmers, Union Industries, LLC
MN

Farmers, Union Industries, LLC

Entity: Partnership

Industry: Rendering and Meat Byproduct Processing

Location: Redwood Falls, MN

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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

Loan Size:

$7.06M

Jobs Retained:

500

Loan Approved:

2020-04-12

Lender:

MINNWEST BANK

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.

Because the loan received by Farmers, Union Industries, LLC is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Farmers, Union Industries, LLC in Redwood Falls, MN

Farmers, Union Industries, LLC
220 Ponderosa Rd
Redwood Falls, MN 56283

Business Industry

Rendering and Meat Byproduct Processing (NAICS code 311613)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional 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.

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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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/farmers-union-industries-llc-redwood-falls-mn