PPP Loan Data — Fabiano Bros., Inc., Bay City, MI
Fabiano Bros., Inc. is a subchapter s corporation located at 1885 Bevanda Ct. in Bay City, Michigan that received a Coronavirus-related PPP loan from the SBA of $4,744,019.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 400 people during the applicable loan loan period.
$ PPP Loan Information
Lender:JPMORGAN CHASE BANK, NATIONAL ASSOCIATION
Fabiano Bros., Inc. in Bay City, MI received a Paycheck Protection Loan of $4.74M through JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Fabiano Bros., Inc.'s total 2019 payroll expenses were approximately $22.77M in order to qualify for the PPP loan amount received.
Based on their reported 400 jobs retained, this equals an estimated average yearly compensation of $56,928 per employee1.
Business Information - Fabiano Bros., Inc. in Bay City, MI
1885 Bevanda Ct.
Bay City, MI 48706
Beer and Ale Merchant Wholesalers (NAICS code 424810)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: MALE OWNED
Veteran Status: UnreportedCongressional District: MI-05
Similar Companies near Bay City
In the Bay City area, 2 businesses in the "Beer and Ale Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 231 employees (compared to this company's 400) and received an average PPP loan of $2,663,610 (compared to this company's $4.74M).
Similar Nearby Businesses Who Received PPP Funding:
Fabiano Brothers Development - Wisconsin, LLC
Bay City, MI
Industry PPP Comparison Statistics
Nationwide, 1,103 businesses in the "Beer and Ale Merchant Wholesalers" industry received a total of $586,037,858.00 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 43 employees, 89% lower than Fabiano Bros., Inc.'s reported 400 employees, and received an average PPP loan of $531,313, 89% lower than this company's loan of $4.74M.
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, 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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