PPP Loan Data — Freezer Chefs LLC, Orem, UT
Freezer Chefs LLC is a limited liability company (LLC) located at 845 N 100 W #105 in Orem, Utah that received a Coronavirus-related PPP loan from the SBA of $25,458.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Wells Fargo Bank, National Association
Freezer Chefs LLC in Orem, UT received a Paycheck Protection Loan of $25,458 through Wells Fargo 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 April, 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, Freezer Chefs LLC's 2019 payroll expenses are estimated to be at least $122,198.
Based on their reported 9 jobs retained, this equals an estimated average yearly compensation of $13,578 per employee1
Reported PPP Proceed Usage:
On the PPP application, Freezer Chefs LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,458
Business Information - Freezer Chefs LLC in Orem, UT
845 N 100 W #105
Orem, UT 84057
Frozen Specialty Food Manufacturing
NAICS code 311412
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 1,019 businesses in the "Frozen Specialty Food Manufacturing" industry received a total of $203.26M 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 23 employees, 156% higher than Freezer Chefs LLC's reported 9 employees, and received an average PPP loan of $199,473, 684% higher than this company's loan of $25,458.
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Footnotes & Information
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