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

PPP Loan Data — T.c.c.c Inc, Minneapolis, MN

ALERT: There are 2 PPP loans for a total of $942,169 in our database for businesses with the name "T.c.c.c Inc" in Minneapolis, MN. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for T.c.c.c Inc

FRANCHISE

MN

T.c.c.c Inc

Entity: Corporation

Industry: All Other Grain Farming

Franchise: California Closets

Location: Minneapolis, MN

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T.c.c.c Inc is a corporation located at 5000 W 78th St in Minneapolis, Minnesota that received a Coronavirus-related PPP loan from the SBA of $440,684.00 in February, 2021. This business is a California Closets franchise.

The company has reported itself as a male owned business, and employed at least 28 people during the applicable loan loan period.

$ PPP Loan Information
Loan #4817678507

Loan Size:

$440,684

Jobs Retained:

28

Loan Approved:

2021-02-26

Loan Status:

Ongoing Loan

Lender:

Compeer Financial, ACA

T.c.c.c Inc in Minneapolis, MN received a Paycheck Protection Loan of $440,684 through Compeer Financial, ACA, which was approved in February, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA. The loan's status was last updated by the SBA in November, -0001.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, T.c.c.c Inc's 2019 payroll expenses are estimated to be at least $2.12M.

Based on their reported 28 jobs retained, this equals an estimated average yearly compensation of $75,546 per employee1

Reported PPP Proceed Usage:

On the PPP application, T.c.c.c Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $440,682
  • Utilities: $1

Business Information - T.c.c.c Inc in Minneapolis, MN

T.c.c.c Inc
5000 W 78th St
Minneapolis, MN 55435

Business Industry:
All Other Grain Farming
NAICS code 111199

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Hennepin County, MN — SBA Office 0508 — Congressional District: MN-03

Industry PPP Comparison Statistics

Nationwide, 39,380 businesses in the "All Other Grain Farming" industry received a total of $776.21M 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 2 employees, 93% lower than T.c.c.c Inc's reported 28 employees, and received an average PPP loan of $19,711, 96% lower than this company's loan of $440,684.

SBA PPP loan data, payroll data, and salaries for T.c.c.c., Inc
MN

T.c.c.c., Inc

Entity: Corporation

Industry: All Other Grain Farming

Location: Minneapolis, MN

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T.c.c.c., Inc is a corporation located at 5000 West 78th Street in Minneapolis, Minnesota that received a Coronavirus-related PPP loan from the SBA of $501,485.00 in April, 2020.

The company has reported itself as a male owned business, and employed at least 35 people during the applicable loan loan period.

$ PPP Loan Information
Loan #6140007200

Loan Size:

$501,485

Jobs Retained:

35

Loan Approved:

2020-04-27

Loan Status:

Ongoing Loan

Lender:

Compeer Financial, ACA

T.c.c.c., Inc in Minneapolis, MN received a Paycheck Protection Loan of $501,485 through Compeer Financial, ACA, which was approved in April, 2020.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA. The loan's status was last updated by the SBA in November, -0001.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, T.c.c.c., Inc's 2019 payroll expenses are estimated to be at least $2.41M.

Based on their reported 35 jobs retained, this equals an estimated average yearly compensation of $68,775 per employee1

Reported PPP Proceed Usage:

On the PPP application, T.c.c.c., Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $501,485

Business Information - T.c.c.c., Inc in Minneapolis, MN

T.c.c.c., Inc
5000 West 78th Street
Minneapolis, MN 55435

Business Industry:
All Other Grain Farming
NAICS code 111199

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Hennepin County, MN — SBA Office 0508 — Congressional District: MN-03

Industry PPP Comparison Statistics

Nationwide, 39,380 businesses in the "All Other Grain Farming" industry received a total of $776.21M 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 2 employees, 94% lower than T.c.c.c., Inc's reported 35 employees, and received an average PPP loan of $19,711, 96% lower than this company's loan of $501,485.

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. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. 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/tccc-inc-minneapolis-mn