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PPP Loan Data — United Farmers Cooperative, Red Oak, IA

SBA PPP loan data, payroll data, and salaries for United Farmers Cooperative

United Farmers Cooperative

Entity: Cooperative

Industry: Grain and Field Bean Merchant Wholesalers

Location: Red Oak, IA

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United Farmers Cooperative is a cooperative located at 203 W Oak St in Red Oak, Iowa that received a Coronavirus-related PPP loan from the SBA of $3,036,200.00 in April, 2020.

$ PPP Loan Information

Loan Size:


Jobs Retained:


Loan Approved:




United Farmers Cooperative received a Paycheck Protection Loan of $3.04M through HOUGHTON STATE BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, United Farmers Cooperative's total 2019 payroll expenses were approximately $14.57M in order to qualify for the PPP loan amount received.

Based on their reported 319 jobs retained, this equals an estimated average yearly compensation of $45,686 per employee1.

Because the loan received by United Farmers Cooperative is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - United Farmers Cooperative in Red Oak, IA

United Farmers Cooperative
203 W Oak St
Red Oak, IA 51566

Business Industry

Grain and Field Bean Merchant Wholesalers (NAICS code 424510)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: IA-03

Industry PPP Comparison Statistics

Nationwide, 1,029 businesses in the "Grain and Field Bean Merchant Wholesalers" industry received a total of $214,510,443.00 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 16 employees, 95% lower than United Farmers Cooperative's reported 319 employees, and received an average PPP loan of $208,465, 93% lower than this company's loan of $3.04M.

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.

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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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** This Document Provided By - The Civil Employee's Resource **