PPP Loan Data — Twin Cities Co-Op Partners, Inc, Minneapolis, MN
Twin Cities Co-Op Partners, Inc
Location: Minneapolis, MNTweet This • Search All PPP Data
Twin Cities Co-Op Partners, Inc is a corporation located at 2105 Lyndale Ave S in Minneapolis, Minnesota that received a Coronavirus-related PPP loan from the SBA of $2,728,000.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:First Bank & Trust
Twin Cities Co-Op Partners, Inc in Minneapolis, MN received a Paycheck Protection Loan of $2.73M through First Bank & Trust, which was approved in April, 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, Twin Cities Co-Op Partners, Inc's 2019 payroll expenses are estimated to be at least $13.09M.
Based on their reported 400 jobs retained, this equals an estimated average yearly compensation of $32,736 per employee1
Reported PPP Proceed Usage:
On the PPP application, Twin Cities Co-Op Partners, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,728,000
Business Information - Twin Cities Co-Op Partners, Inc in Minneapolis, MN
2105 Lyndale Ave S
Minneapolis, MN 55405
Supermarkets and Other Grocery (except Convenience) Stores
NAICS code 445110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Minneapolis
In the Minneapolis area, 13 businesses in the "Supermarkets and Other Grocery (except Convenience) Stores" industry received a PPP loan. These local businesses reported an average of 52 employees (compared to this company's 400) and received an average PPP loan of $262,749 (compared to this company's $2.73M).
Similar Nearby Businesses Who Received PPP Funding:
Clinton Halal Meat Inc
El Norteno Market And Deli
United Noodles Inc
Riverside Market, Inc. DBA Longfellow Market
Oxendales Enterprises Inc
Almadina Grocery Market Inc
MN Halal Market Inc
Industry PPP Comparison Statistics
Nationwide, 24,281 businesses in the "Supermarkets and Other Grocery (except Convenience) Stores" industry received a total of $2.22B 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 19 employees, 95% lower than Twin Cities Co-Op Partners, Inc's reported 400 employees, and received an average PPP loan of $91,563, 97% lower than this company's loan of $2.73M.
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