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PPP Loan Data — Farmington Foods, Inc., Forest Park, IL

SBA PPP loan data, payroll data, and salaries for Farmington Foods, Inc.
IL

Farmington Foods, Inc.

Entity: Corporation

Industry: Meat Processed from Carcasses

Location: Forest Park, IL

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Farmington Foods, Inc. is a corporation located at 7419 Franklin St in Forest Park, Illinois that received a Coronavirus-related PPP loan from the SBA of $2,463,085.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.46M

Jobs Retained:

213

Loan Approved:

2020-04-11

Lender:

FIFTH THIRD BANK

Farmington Foods, Inc. received a Paycheck Protection Loan of $2.46M through FIFTH THIRD BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Farmington Foods, Inc.'s total 2019 payroll expenses were approximately $11.82M in order to qualify for the PPP loan amount received.

Based on their reported 213 jobs retained, this equals an estimated average yearly compensation of $55,506 per employee1.

Because the loan received by Farmington 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 - Farmington Foods, Inc. in Forest Park, IL

Farmington Foods, Inc.
7419 Franklin St
Forest Park, IL 60130

Business Industry

Meat Processed from Carcasses (NAICS code 311612)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: IL-07

Similar Companies near Forest Park

In the Forest Park area, 3 businesses in the "Meat Processed from Carcasses" industry received a PPP loan. These local businesses reported an average of 127 employees (compared to this company's 213) and received an average PPP loan of $1,452,078 (compared to this company's $2.46M).

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, 84% lower than Farmington Foods, Inc.'s reported 213 employees, and received an average PPP loan of $362,896, 85% lower than this company's loan of $2.46M.

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/farmington-foods-inc-forest-park-il