PPP Loan Data — Fairfield Gourmet Food Corp, Cedar Grove, NJ
Fairfield Gourmet Food Corp is a subchapter s corporation located at 11 Cliffside Dr in Cedar Grove, New Jersey that received a Coronavirus-related PPP loan from the SBA of $4,309,300.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:TD Bank, National Association
Fairfield Gourmet Food Corp in Cedar Grove, NJ received a Paycheck Protection Loan of $4.31M through TD Bank, National Association, which was approved in April, 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 September, 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, Fairfield Gourmet Food Corp's 2019 payroll expenses are estimated to be at least $20.68M.
Based on their reported 405 jobs retained, this equals an estimated average yearly compensation of $51,073 per employee1
Reported PPP Proceed Usage:
On the PPP application, Fairfield Gourmet Food Corp reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $4,309,300
Business Information - Fairfield Gourmet Food Corp in Cedar Grove, NJ
11 Cliffside Dr
Cedar Grove, NJ 7009
Cookie and Cracker Manufacturing
NAICS code 311821
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 922 businesses in the "Cookie and Cracker Manufacturing" industry received a total of $97.31M 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 14 employees, 97% lower than Fairfield Gourmet Food Corp's reported 405 employees, and received an average PPP loan of $105,547, 98% lower than this company's loan of $4.31M.
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Footnotes & Information
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