PPP Loan Data — Dearborn Sausage Company Inc, Dearborn, MI
Dearborn Sausage Company Inc is a limited liability company (LLC) located at 2450 Wyoming in Dearborn, Michigan that received a Coronavirus-related PPP loan from the SBA of $1,925,200.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Dearborn Sausage Company Inc in Dearborn, MI received a Paycheck Protection Loan of $1.93M through Comerica 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 June, 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, Dearborn Sausage Company Inc's 2019 payroll expenses are estimated to be at least $9.24M.
Based on their reported 197 jobs retained, this equals an estimated average yearly compensation of $46,908 per employee1
Reported PPP Proceed Usage:
On the PPP application, Dearborn Sausage Company Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,540,196
- Mortgage Interest: $385,004
Business Information - Dearborn Sausage Company Inc in Dearborn, MI
Dearborn, MI 48120
Meat Processed from Carcasses
NAICS code 311612
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Dearborn
In the Dearborn area, 2 businesses in the "Meat Processed from Carcasses" industry received a PPP loan. These local businesses reported an average of 132 employees (compared to this company's 197) and received an average PPP loan of $1,163,850 (compared to this company's $1.93M).
Similar Nearby Businesses Who Received PPP Funding:
Industry PPP Comparison Statistics
Nationwide, 1,229 businesses in the "Meat Processed from Carcasses" industry received a total of $350.46M in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 31 employees, 84% lower than Dearborn Sausage Company Inc's reported 197 employees, and received an average PPP loan of $285,155, 85% lower than this company's loan of $1.93M.
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Footnotes & Information
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