PPP Loan Data — El Encanto Inc, Albuquerque, NM
El Encanto Inc is a corporation located at 2001 4th St Sw in Albuquerque, New Mexico that received a Coronavirus-related PPP loan from the SBA of $2,439,977.00 in April, 2020.
The company has reported itself as a Hispanic male owned business, and employed at least 275 people during the applicable loan loan period.
$ PPP Loan Information
El Encanto Inc received a Paycheck Protection Loan of $2.44M through MAIN BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, El Encanto Inc's total 2019 payroll expenses were approximately $11.71M in order to qualify for the PPP loan amount received.
Based on their reported 275 jobs retained, this equals an estimated average yearly compensation of $42,589 per employee1.
Business Information - El Encanto Inc in Albuquerque, NM
2001 4th St Sw
Albuquerque, NM 87102
Frozen Specialty Food Manufacturing (NAICS code 311412)
Business Owner Demographics
Race / Ethnicity: HISPANIC
Gender: MALE OWNED
Veteran Status: NON-VETERANCongressional District: NM-01
Industry PPP Comparison Statistics
Nationwide, 434 businesses in the "Frozen Specialty Food Manufacturing" industry received a total of $156,253,662.00 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 36 employees, 87% lower than El Encanto Inc's reported 275 employees, and received an average PPP loan of $360,031, 85% lower than this company's loan of $2.44M.
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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) 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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