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PPP Loan Data — US Tobacco Cooperative Inc,
Raleigh, NC
US Tobacco Cooperative Inc
Entity: Corporation
Industry: Tobacco Farming
Location: Raleigh, NC
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US Tobacco Cooperative Inc is a corporation located at 1304 Annapolis Dr in Raleigh, North Carolina that received a Coronavirus-related PPP loan from the SBA of $3,794,073.00 in April, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
225Loan Approved:
2020-04-07Lender:
TRUIST BANK D/B/A BRANCH BANKING & TRUST COUS Tobacco Cooperative Inc in Raleigh, NC received a Paycheck Protection Loan of $3.79M through TRUIST BANK D/B/A BRANCH BANKING & TRUST CO, which was approved in April, 2020.
Based on standard PPP eligibility rules, US Tobacco Cooperative Inc's total 2019 payroll expenses were approximately $18.21M in order to qualify for the PPP loan amount received.
Based on their reported 225 jobs retained, this equals an estimated average yearly compensation of $80,940 per employee1.
Business Information - US Tobacco Cooperative Inc in Raleigh, NC
1304 Annapolis Dr
Raleigh, NC 27608
Business Industry
Tobacco Farming (NAICS code 111910)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: NC-04Industry PPP Comparison Statistics
Nationwide, 563 businesses in the "Tobacco Farming" industry received a total of $22,358,052.00 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 7 employees, 97% lower than US Tobacco Cooperative Inc's reported 225 employees, and received an average PPP loan of $39,712, 99% lower than this company's loan of $3.79M.
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, and is published unmodified, as provided by the SBA.
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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