TRANSPAK INC
PPP Loan approved May 1, 2020 through Wells Fargo Bank, National Association
Borrower Information
Business Details
Lender Information
Self-Reported Demographics
How Proceeds Were Used
| Category | Amount | % of Total Proceeds |
|---|---|---|
| Payroll | $7,898,580.00 | 100.0% |
About This Loan
TRANSPAK INC received a PPP loan of $7,898,580 approved on May 1, 2020. The loan was originated by Wells Fargo Bank, National Association.
TRANSPAK INC is a corporation located in TUALATIN, Oregon. At the time of the application, the business was described as "existing or more than 2 years old".
The business operates in the Sporting Goods, Hobby, and Musical Instrument Retailers industry (NAICS 451110), part of the Retail Trade sector of the economy. The applicant reported 495 jobs as retained through this loan.
The SBA forgave $6,607,831.77 of this loan — 83.7% of the total approved amount, with forgiveness recorded on Dec 27, 2021. This means the borrower was not required to repay this portion, having satisfied the PPP's eligibility criteria for forgiveness, including maintaining payroll levels and using the funds for qualified expenses.
According to the SBA's records, the proceeds of this loan were allocated as follows: $7,898,580 to payroll. The payroll component represents 100.0% of disclosed proceeds, consistent with the program's requirement that at least 60% of loan funds be used for payroll costs to qualify for full forgiveness.
This loan is one of millions approved nationwide during the COVID-19 pandemic. To explore other recipients in Oregon, visit the Oregon page. To compare this loan with others in the same industry, see the Sporting Goods, Hobby, and Musical Instrument Retailers industry page.