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PPP Loan Data — Empirical Foods, Inc., Dakota Dunes, SD

SBA PPP loan data, payroll data, and salaries for Empirical Foods, Inc.
SD

Empirical Foods, Inc.

Entity: Subchapter S Corporation

Industry: Meat Processed from Carcasses

Location: Dakota Dunes, SD

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Empirical Foods, Inc. is a subchapter s corporation located at 891 Two Rivers Dr in Dakota Dunes, South Dakota that received a Coronavirus-related PPP loan from the SBA of $9,158,800.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$9.16M

Jobs Retained:

500

Loan Approved:

2020-04-27

Lender:

WASHINGTON STATE BANK

Empirical Foods, Inc. received a Paycheck Protection Loan of $9.16M through WASHINGTON STATE BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Empirical Foods, Inc.'s total 2019 payroll expenses were approximately $43.96M in order to qualify for the PPP loan amount received.

Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $87,924 per employee1.

Because the loan received by Empirical Foods, Inc. is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Empirical Foods, Inc. in Dakota Dunes, SD

Empirical Foods, Inc.
891 Two Rivers Dr
Dakota Dunes, SD 57049

Business Industry

Meat Processed from Carcasses (NAICS code 311612)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: SD-

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, 93% lower than Empirical Foods, Inc.'s reported 500 employees, and received an average PPP loan of $362,896, 96% lower than this company's loan of $9.16M.

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.

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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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Source: www.federalpay.org/paycheck-protection-program/empirical-foods-inc-dakota-dunes-sd