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PPP Loan Data — Ginsberg's Institutional Foods, Inc., Hudson, NY

SBA PPP loan data, payroll data, and salaries for Ginsberg's Institutional Foods, Inc.
NY

Ginsberg's Institutional Foods, Inc.

Entity: Corporation

Industry: General Line Grocery Merchant Wholesalers

Location: Hudson, NY

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Ginsberg's Institutional Foods, Inc. is a corporation located at 29 Ginsburg Ln in Hudson, New York that received a Coronavirus-related PPP loan from the SBA of $3,787,500.00 in April, 2020.

The company has reported itself as a White male owned business.

$ PPP Loan Information

Loan Size:

$3.79M

Jobs Retained:

0 Unreported

Loan Approved:

2020-04-04

Lender:

PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION

Ginsberg's Institutional Foods, Inc. in Hudson, NY received a Paycheck Protection Loan of $3.79M through PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Ginsberg's Institutional Foods, Inc.'s total 2019 payroll expenses were approximately $18.18M in order to qualify for the PPP loan amount received.

Unlike most businesses, Ginsberg's Institutional Foods, Inc.'s PPP data does not report the number of jobs retained by their receipt of the Paycheck Protection Loan (some banks did not release this infomation from their loan applications). Without this data, per-employee payrolls for this company cannot be estimated.

Because the loan received by Ginsberg's Institutional 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 - Ginsberg's Institutional Foods, Inc. in Hudson, NY

Ginsberg's Institutional Foods, Inc.
29 Ginsburg Ln
Hudson, NY 12534

Business Industry

General Line Grocery Merchant Wholesalers (NAICS code 424410)

Business Owner Demographics

Race / Ethnicity: WHITE

Gender: MALE OWNED

Veteran Status: NON-VETERAN

Congressional District: NY-19

Industry PPP Comparison Statistics

Nationwide, 4,442 businesses in the "General Line Grocery Merchant Wholesalers" industry received a total of $596,799,136.00 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 14 employees, and received an average PPP loan of $134,354, 96% lower than this company's loan of $3.79M.

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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Source: www.federalpay.org/paycheck-protection-program/ginsbergs-institutional-foods-inc-hudson-ny