DESCHUTES BREWERY, INC
PPP Loan approved Apr 9, 2020 through Mid Oregon FCU
Borrower Information
Business Details
Lender Information
Self-Reported Demographics
How Proceeds Were Used
| Category | Amount | % of Total Proceeds |
|---|---|---|
| Payroll | $5,178,001.00 | 87.6% |
| Utilities | $307,710.00 | 5.2% |
| Rent / Lease | $182,919.00 | 3.1% |
| Mortgage Interest | $244,000.00 | 4.1% |
About This Loan
DESCHUTES BREWERY, INC received a PPP loan of $5,912,630 approved on Apr 9, 2020. The loan was originated by Mid Oregon FCU.
DESCHUTES BREWERY, INC is a corporation located in BEND, Oregon. At the time of the application, the business was described as "existing or more than 2 years old".
The business operates in the Manufacturing industry (NAICS 312120), part of the Manufacturing sector of the economy. The applicant reported 148 jobs as retained through this loan.
The SBA forgave $5,993,948.91 of this loan — 101.4% of the total approved amount, with forgiveness recorded on Aug 31, 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: $5,178,001 to payroll, $307,710 to utilities, $182,919 to rent or lease obligations, $244,000 to mortgage interest. The payroll component represents 87.6% 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 Manufacturing industry page.