PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Rainbow Tree Company, Minnetonka, MN

SBA PPP loan data, payroll data, and salaries for Rainbow Tree Company
MN

Rainbow Tree Company

Entity: Subchapter S Corporation

Industry: Other Chemical and Allied Products Merchant Wholesalers

Location: Minnetonka, MN

Search All PPP Data

Rainbow Tree Company is a subchapter s corporation located at 11571 K-tel Drive in Minnetonka, Minnesota that received a Coronavirus-related PPP loan from the SBA of $3,202,480.00 in April, 2020.

The company has reported itself as a White male owned business, and employed at least 263 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$3.2M

Jobs Retained:

263

Loan Approved:

2020-04-15

Lender:

U.S. BANK, NATIONAL ASSOCIATION

Rainbow Tree Company received a Paycheck Protection Loan of $3.2M through U.S. BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Rainbow Tree Company's total 2019 payroll expenses were approximately $15.37M in order to qualify for the PPP loan amount received.

Based on their reported 263 jobs retained, this equals an estimated average yearly compensation of $58,448 per employee1.

Because the loan received by Rainbow Tree Company 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 - Rainbow Tree Company in Minnetonka, MN

Rainbow Tree Company
11571 K-tel Drive
Minnetonka, MN 55343

Business Industry

Other Chemical and Allied Products Merchant Wholesalers (NAICS code 424690)

Business Owner Demographics

Race / Ethnicity: WHITE

Gender: MALE OWNED

Veteran Status: Unreported

Congressional District: MN-03

Similar Companies near Minnetonka

In the Minnetonka area, 3 businesses in the "Other Chemical and Allied Products Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 93 employees (compared to this company's 263) and received an average PPP loan of $1,162,685 (compared to this company's $3.2M).

Industry PPP Comparison Statistics

Nationwide, 2,140 businesses in the "Other Chemical and Allied Products Merchant Wholesalers" industry received a total of $406,941,257.00 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 12 employees, 95% lower than Rainbow Tree Company's reported 263 employees, and received an average PPP loan of $190,159, 94% lower than this company's loan of $3.2M.

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.

Search FederalPay's Full PPP Loan Database

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.


Have FederalPay.org's open data tools been valuable? Consider donating!

** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/rainbow-tree-company-minnetonka-mn