PPP Loan Data — Minn-Dak Farmers Cooperative, Wahpeton, ND
Minn-Dak Farmers Cooperative is a corporation located at 7525 Red River Rd in Wahpeton, North Dakota that received a Coronavirus-related PPP loan from the SBA of $8,599,400.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 500 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Minn-Dak Farmers Cooperative in Wahpeton, ND received a Paycheck Protection Loan of $8.6M through Bell Bank, which was approved in April, 2020.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
Based on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, Minn-Dak Farmers Cooperative's 2019 payroll expenses are estimated to be at least $41.28M.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $82,554 per employee1
Reported PPP Proceed Usage:
On the PPP application, Minn-Dak Farmers Cooperative reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $8,599,400
Business Information - Minn-Dak Farmers Cooperative in Wahpeton, ND
7525 Red River Rd
Wahpeton, ND 58075
Beet Sugar Manufacturing
NAICS code 311313
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 18 businesses in the "Beet Sugar Manufacturing" industry received a total of $29.94M 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 90 employees, 82% lower than Minn-Dak Farmers Cooperative's reported 500 employees, and received an average PPP loan of $1.66M, 81% lower than this company's loan of $8.6M.
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Footnotes & Information
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