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PPP Loan Data — Fabiano Bros., Inc., Bay City, MI

SBA PPP loan data, payroll data, and salaries for Fabiano Bros., Inc.
MI

Fabiano Bros., Inc.

Entity: Subchapter S Corporation

Industry: Beer and Ale Merchant Wholesalers

Location: Bay City, MI

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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

Loan Size:

$4.74M

Jobs Retained:

400

Loan Approved:

2020-04-09

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.

Because the loan received by Fabiano Bros., 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 - Fabiano Bros., Inc. in Bay City, MI

Fabiano Bros., Inc.
1885 Bevanda Ct.
Bay City, MI 48706

Business Industry

Beer and Ale Merchant Wholesalers (NAICS code 424810)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: MALE OWNED

Veteran Status: Unreported

Congressional 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

$583,200 PPP Loan

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.

Search FederalPay's Full PPP Loan Database

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/fabiano-bros-inc-bay-city-mi