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PPP Loan Data — North Country Business Products, Bemidji, MN

SBA PPP loan data, payroll data, and salaries for North Country Business Products
MN

North Country Business Products

Entity: Partnership

Industry: Office Supplies and Stationery Stores

Location: Bemidji, MN

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North Country Business Products is a partnership located at 1112 Railroad Street Ne in Bemidji, Minnesota that received a Coronavirus-related PPP loan from the SBA of $2,485,600.00 in April, 2020.

The company has reported itself as a White male owned business, and employed at least 153 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$2.49M

Jobs Retained:

153

Loan Approved:

2020-04-04

Lender:

KODABANK

North Country Business Products received a Paycheck Protection Loan of $2.49M through KODABANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, North Country Business Products' total 2019 payroll expenses were approximately $11.93M in order to qualify for the PPP loan amount received.

Based on their reported 153 jobs retained, this equals an estimated average yearly compensation of $77,980 per employee1.

Because the loan received by North Country Business Products 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 - North Country Business Products in Bemidji, MN

North Country Business Products
1112 Railroad Street Ne
Bemidji, MN 56601

Business Industry

Office Supplies and Stationery Stores (NAICS code 453210)

Business Owner Demographics

Race / Ethnicity: WHITE

Gender: MALE OWNED

Veteran Status: Unreported

Congressional District: MN-07

Industry PPP Comparison Statistics

Nationwide, 2,286 businesses in the "Office Supplies and Stationery Stores" industry received a total of $199,590,336.00 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 9 employees, 94% lower than North Country Business Products' reported 153 employees, and received an average PPP loan of $87,310, 96% lower than this company's loan of $2.49M.

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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Source: www.federalpay.org/paycheck-protection-program/north-country-business-products-bemidji-mn