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PPP Loan Data — Health Systems Cooperative Laundries,
Saint Paul, MN
Health Systems Cooperative Laundries
Entity: Corporation
Industry: Linen Supply
Location: Saint Paul, MN
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Health Systems Cooperative Laundries is a corporation located at 55 East 5th Street Suite 960 in Saint Paul, Minnesota that received a Coronavirus-related PPP loan from the SBA of $2,817,600.00 in April, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
327Loan Approved:
2020-04-08Lender:
BREMER BANK, NATIONAL ASSOCIATIONHealth Systems Cooperative Laundries in Saint Paul, MN received a Paycheck Protection Loan of $2.82M through BREMER BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Health Systems Cooperative Laundries' total 2019 payroll expenses were approximately $13.52M in order to qualify for the PPP loan amount received.
Based on their reported 327 jobs retained, this equals an estimated average yearly compensation of $41,359 per employee1.
Business Information - Health Systems Cooperative Laundries in Saint Paul, MN
55 East 5th Street Suite 960
Saint Paul, MN 55101
Business Industry
Linen Supply (NAICS code 812331)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: MN-04Industry PPP Comparison Statistics
Nationwide, 501 businesses in the "Linen Supply" industry received a total of $193,937,933.00 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 38 employees, 88% lower than Health Systems Cooperative Laundries' reported 327 employees, and received an average PPP loan of $387,102, 86% lower than this company's loan of $2.82M.
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, 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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