PPP Loan Data — Staple Cotton Cooperative Association, Greenwood, MS
Staple Cotton Cooperative Association is a cooperative located at 214 W Market Street in Greenwood, Mississippi that received a Coronavirus-related PPP loan from the SBA of $2,672,900.00 in July, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Staple Cotton Cooperative Association in Greenwood, MS received a Paycheck Protection Loan of $2.67M through Regions Bank, which was approved in July, 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, Staple Cotton Cooperative Association's 2019 payroll expenses are estimated to be at least $12.83M.
Based on their reported 217 jobs retained, this equals an estimated average yearly compensation of $59,124 per employee1
Reported PPP Proceed Usage:
On the PPP application, Staple Cotton Cooperative Association reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,672,900
Business Information - Staple Cotton Cooperative Association in Greenwood, MS
214 W Market Street
Greenwood, MS 38930
Other Individual and Family Services
NAICS code 624190
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Greenwood
In the Greenwood area, 5 businesses in the "Other Individual and Family Services" industry received a PPP loan. These local businesses reported an average of 46 employees (compared to this company's 217) and received an average PPP loan of $575,657 (compared to this company's $2.67M).
Similar Nearby Businesses Who Received PPP Funding:
Staple Cotton Discount Corporation
Industry PPP Comparison Statistics
Nationwide, 25,118 businesses in the "Other Individual and Family Services" industry received a total of $2.96B 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 16 employees, 93% lower than Staple Cotton Cooperative Association's reported 217 employees, and received an average PPP loan of $117,860, 96% lower than this company's loan of $2.67M.
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Footnotes & Information
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