PPP Loan Data — Food Marketing Institute, Arlington, VA
Food Marketing Institute is a corporation located at 2345 Crystal Dr Ste 800 in Arlington, Virginia that received a Coronavirus-related PPP loan from the SBA of $1,780,907.00 in January, 2021.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Loan Source Incorporated
Food Marketing Institute in Arlington, VA received a Paycheck Protection Loan of $1.78M through Loan Source Incorporated, which was approved in January, 2021.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 85. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
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, Food Marketing Institute's 2019 payroll expenses are estimated to be at least $8.55M (not accounting for salary amounts > $100k).
Because the 80 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Reported PPP Proceed Usage:
On the PPP application, Food Marketing Institute reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,780,902
- Utilities: $1
Business Information - Food Marketing Institute in Arlington, VA
2345 Crystal Dr Ste 800
Arlington, VA 22202
NAICS code 813910
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Arlington
In the Arlington area, 24 businesses in the "Business Associations" industry received a PPP loan. These local businesses reported an average of 17 employees (compared to this company's 80) and received an average PPP loan of $349,466 (compared to this company's $1.78M).
Similar Nearby Businesses Who Received PPP Funding:
Utilities Technology Council
Society Of Chemical Manufacturers
National Waste And Recycling Association
Northern Virginia Apartment Association
Online Lenders Alliance
National Tank Truck Carriers Inc
Arlington Chamber Of Commerce
Worldwide Erc Inc
Industry PPP Comparison Statistics
Nationwide, 18,409 businesses in the "Business Associations" industry received a total of $1.18B 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 5 employees, 94% lower than Food Marketing Institute's reported 80 employees, and received an average PPP loan of $64,358, 96% lower than this company's loan of $1.78M.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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