PPP Loan Data — Wcco Belting, Inc., Wahpeton, ND
Wcco Belting, Inc.
Location: Wahpeton, NDTweet This • Search All PPP Data
Wcco Belting, Inc. is a corporation located at 1998 N 9th St in Wahpeton, North Dakota that received a Coronavirus-related PPP loan from the SBA of $3,072,800.00 in April, 2020.
$ PPP Loan Information
Lender:BREMER BANK, NATIONAL ASSOCIATION
Wcco Belting, Inc. received a Paycheck Protection Loan of $3.07M through BREMER BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Wcco Belting, Inc.'s total 2019 payroll expenses were approximately $14.75M in order to qualify for the PPP loan amount received.
Based on their reported 259 jobs retained, this equals an estimated average yearly compensation of $56,948 per employee1.
Business Information - Wcco Belting, Inc. in Wahpeton, ND
1998 N 9th St
Wahpeton, ND 58075
Rubber and Plastics Hoses and Belting Manufacturing (NAICS code 326220)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: ND-
Industry PPP Comparison Statistics
Nationwide, 258 businesses in the "Rubber and Plastics Hoses and Belting Manufacturing" industry received a total of $87,516,775.00 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 31 employees, 88% lower than Wcco Belting, Inc.'s reported 259 employees, and received an average PPP loan of $339,212, 89% lower than this company's loan of $3.07M.
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.
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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