PPP Loan Data — Crown Foods, Inc, Shelbyville, IN
Crown Foods, Inc is a corporation located at Po Box 751 in Shelbyville, Indiana that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:First Financial Bank
Crown Foods, Inc in Shelbyville, IN received a Paycheck Protection Loan of $25,000 through First Financial Bank, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in May, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
Based on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, Crown Foods, Inc's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 30 jobs retained, this equals an estimated average yearly compensation of $4,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Crown Foods, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Crown Foods, Inc in Shelbyville, IN
Po Box 751
Shelbyville, IN 46176
NAICS code 722513
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Rural
Similar Companies near Shelbyville
In the Shelbyville area, 12 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 21 employees (compared to this company's 30) and received an average PPP loan of $62,876 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
D R Foods LLC
Subin 12 LLC
Aditi 3 Italian Fast Food LLC
The Bears Den, LLC
Wojo 7, LLC
Wojo 6, LLC
Industry PPP Comparison Statistics
Nationwide, 137,629 businesses in the "Limited-Service Restaurants" industry received a total of $13.9B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 21 employees, 30% lower than Crown Foods, Inc's reported 30 employees, and received an average PPP loan of $100,980, 304% higher than this company's loan of $25,000.
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Footnotes & Information
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