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PPP Loan Data — Interplastic Corporation, St Paul, MN

SBA PPP loan data, payroll data, and salaries for Interplastic Corporation
MN

Interplastic Corporation

Entity: Subchapter S Corporation

Industry: Plastics Material and Resin Manufacturing

Location: St Paul, MN

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Interplastic Corporation is a subchapter s corporation located at 1225 Willow Lake Road in St Paul, Minnesota that received a Coronavirus-related PPP loan from the SBA of $7,000,000.00 in April, 2020.

The company has reported itself as a male owned business, and employed at least 343 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$7M

Jobs Retained:

343

Loan Approved:

2020-04-13

Lender:

BRIDGE COMMUNITY BANK

Interplastic Corporation in St Paul, MN received a Paycheck Protection Loan of $7M through BRIDGE COMMUNITY BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Interplastic Corporation's total 2019 payroll expenses were approximately $33.6M in order to qualify for the PPP loan amount received.

Based on their reported 343 jobs retained, this equals an estimated average yearly compensation of $97,959 per employee1.

Because the loan received by Interplastic Corporation 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 - Interplastic Corporation in St Paul, MN

Interplastic Corporation
1225 Willow Lake Road
St Paul, MN 55110

Business Industry

Plastics Material and Resin Manufacturing (NAICS code 325211)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: MALE OWNED

Veteran Status: Unreported

Congressional District: MN-04

Industry PPP Comparison Statistics

Nationwide, 858 businesses in the "Plastics Material and Resin Manufacturing" industry received a total of $311,116,969.00 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 29 employees, 92% lower than Interplastic Corporation's reported 343 employees, and received an average PPP loan of $362,607, 95% lower than this company's loan of $7M.

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.

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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/interplastic-corporation-st-paul-mn