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PPP Loan Data — Cloverdale Foods Company,
Mandan, ND
Cloverdale Foods Company
Entity: Subchapter S Corporation
Industry: Meat Processed from Carcasses
Location: Mandan, ND
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Cloverdale Foods Company is a subchapter s corporation located at 3015 34th St in Mandan, North Dakota that received a Coronavirus-related PPP loan from the SBA of $3,656,700.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 397 people during the applicable loan loan period.
$ PPP Loan Information
Loan Size:
Jobs Retained:
397Loan Approved:
2020-04-06Lender:
FIRST INTERNATIONAL BANK & TRUSTCloverdale Foods Company in Mandan, ND received a Paycheck Protection Loan of $3.66M through FIRST INTERNATIONAL BANK & TRUST, which was approved in April, 2020.
Based on standard PPP eligibility rules, Cloverdale Foods Company's total 2019 payroll expenses were approximately $17.55M in order to qualify for the PPP loan amount received.
Based on their reported 397 jobs retained, this equals an estimated average yearly compensation of $44,212 per employee1.
Business Information - Cloverdale Foods Company in Mandan, ND
3015 34th St
Mandan, ND 58554
Business Industry
Meat Processed from Carcasses (NAICS code 311612)
Business Owner Demographics
Race / Ethnicity: WHITE
Gender: MALE OWNED
Veteran Status: NON-VETERAN
Congressional District: ND-Similar Companies near Mandan
In the Mandan area, 2 businesses in the "Meat Processed from Carcasses" industry received a PPP loan. These local businesses reported an average of 203 employees (compared to this company's 397) and received an average PPP loan of $1,890,950 (compared to this company's $3.66M).
Similar Nearby Businesses Who Received PPP Funding:
M & W Beef Packers Inc
Mandan, ND
Industry PPP Comparison Statistics
Nationwide, 867 businesses in the "Meat Processed from Carcasses" industry received a total of $314,630,695.00 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 35 employees, 91% lower than Cloverdale Foods Company's reported 397 employees, and received an average PPP loan of $362,896, 90% lower than this company's loan of $3.66M.
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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