PPP Loan Data — The First District Association, Litchfield, MN
The First District Association is a cooperative located at 101 South Swift Avenue in Litchfield, Minnesota that received a Coronavirus-related PPP loan from the SBA of $3,000,000.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 166 people during the applicable loan loan period.
$ PPP Loan Information
Lender:CENTER NATIONAL BANK
The First District Association received a Paycheck Protection Loan of $3M through CENTER NATIONAL BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, The First District Association's total 2019 payroll expenses were approximately $14.4M in order to qualify for the PPP loan amount received.
Based on their reported 166 jobs retained, this equals an estimated average yearly compensation of $86,747 per employee1.
Business Information - The First District Association in Litchfield, MN
101 South Swift Avenue
Litchfield, MN 55355
Fluid Milk Manufacturing (NAICS code 311511)
Business Owner Demographics
Race / Ethnicity: WHITE
Gender: MALE OWNED
Veteran Status: UnreportedCongressional District: MN-07
Industry PPP Comparison Statistics
Nationwide, 204 businesses in the "Fluid Milk Manufacturing" industry received a total of $121,641,804.00 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 46 employees, 72% lower than The First District Association's reported 166 employees, and received an average PPP loan of $596,283, 80% lower than this company's loan of $3M.
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Footnotes & Information
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