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PPP Loan Data — Rice Lake Weighing Systems, Inc,
Rice Lake, WI
Rice Lake Weighing Systems, Inc
Entity: Corporation
Industry: Instruments and Related Products Manufacturing for Measuring, Displaying, and Controlling Industrial Process Variables
Location: Rice Lake, WI
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Rice Lake Weighing Systems, Inc is a corporation located at 230 W Coleman Street in Rice Lake, Wisconsin that received a Coronavirus-related PPP loan from the SBA of $8,400,000.00 in April, 2020.
The company has reported itself as a female owned business, and employed at least 500 people during the applicable loan loan period.
$ PPP Loan Information
Loan Size:
Jobs Retained:
500Loan Approved:
2020-04-03Lender:
CITIZENS COMMUNITY FEDERAL NATIONAL ASSOCIATIONRice Lake Weighing Systems, Inc received a Paycheck Protection Loan of $8.4M through CITIZENS COMMUNITY FEDERAL NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Rice Lake Weighing Systems, Inc's total 2019 payroll expenses were approximately $40.32M in order to qualify for the PPP loan amount received.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $80,640 per employee1.
Business Information - Rice Lake Weighing Systems, Inc in Rice Lake, WI
230 W Coleman Street
Rice Lake, WI 54868
Business Industry
Instruments and Related Products Manufacturing for Measuring, Displaying, and Controlling Industrial Process Variables (NAICS code 334513)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: FEMALE OWNED
Veteran Status: Unreported
Congressional District: WI-07Industry PPP Comparison Statistics
Nationwide, 719 businesses in the "Instruments and Related Products Manufacturing for Measuring, Displaying, and Controlling Industrial Process Variables" industry received a total of $285,355,038.00 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 24 employees, 95% lower than Rice Lake Weighing Systems, Inc's reported 500 employees, and received an average PPP loan of $396,878, 95% lower than this company's loan of $8.4M.
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.
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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