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PPP Loan Data — Cibo Vita Inc, Totowa, NJ

SBA PPP loan data, payroll data, and salaries for Cibo Vita Inc
NJ

Cibo Vita Inc

Entity: Subchapter S Corporation

Industry: Roasted Nuts and Peanut Butter Manufacturing

Location: Totowa, NJ

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Cibo Vita Inc is a subchapter s corporation located at 12 Vreeland Ave in Totowa, New Jersey that received a Coronavirus-related PPP loan from the SBA of $3,808,200.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.81M

Jobs Retained:

0 Unreported

Loan Approved:

2020-04-13

Lender:

PNC BANK, NATIONAL ASSOCIATION

Cibo Vita Inc in Totowa, NJ received a Paycheck Protection Loan of $3.81M through PNC BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Cibo Vita Inc's total 2019 payroll expenses were approximately $18.28M in order to qualify for the PPP loan amount received.

Unlike most businesses, Cibo Vita Inc's PPP data does not report the number of jobs retained by their receipt of the Paycheck Protection Loan (some banks did not release this infomation from their loan applications). Without this data, per-employee payrolls for this company cannot be estimated.

Because the loan received by Cibo Vita Inc is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Cibo Vita Inc in Totowa, NJ

Cibo Vita Inc
12 Vreeland Ave
Totowa, NJ 07512

Business Industry

Roasted Nuts and Peanut Butter Manufacturing (NAICS code 311911)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: NJ-11

Industry PPP Comparison Statistics

Nationwide, 188 businesses in the "Roasted Nuts and Peanut Butter Manufacturing" industry received a total of $65,918,036.00 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 33 employees, and received an average PPP loan of $350,628, 91% lower than this company's loan of $3.81M.

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.

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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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/cibo-vita-inc-totowa-nj