PPP Loan Data — Emerald Meats Incorporated, Worcester, MA
Emerald Meats Incorporated is a corporation located at 347 Chandler St in Worcester, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $46,525.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bank of America, National Association
Emerald Meats Incorporated in Worcester, MA received a Paycheck Protection Loan of $46,525 through Bank of America, National Association, which was approved in May, 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 April, 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, Emerald Meats Incorporated's 2019 payroll expenses are estimated to be at least $223,320.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $37,220 per employee1
Reported PPP Proceed Usage:
On the PPP application, Emerald Meats Incorporated reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,525
Business Information - Emerald Meats Incorporated in Worcester, MA
347 Chandler St
Worcester, MA 1602
NAICS code 445210
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: Y
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 4,261 businesses in the "Meat Markets" industry received a total of $247.79M 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 10 employees, 67% higher than Emerald Meats Incorporated's reported 6 employees, and received an average PPP loan of $58,154, 25% higher than this company's loan of $46,525.
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Footnotes & Information
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