PPP Loan Data — United Farmers Cooperative, Red Oak, IA
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
Lender:HOUGHTON STATE BANK
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.
Business Information - United Farmers Cooperative in Red Oak, IA
203 W Oak St
Red Oak, IA 51566
Grain and Field Bean Merchant Wholesalers (NAICS code 424510)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional 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.
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Footnotes & Information
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