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PPP Loan Data — Gold Medal Bakery, Inc., Fall River, MA

SBA PPP loan data, payroll data, and salaries for Gold Medal Bakery, Inc.
MA

Gold Medal Bakery, Inc.

Entity: Corporation

Industry: Commercial Bakeries

Location: Fall River, MA

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Gold Medal Bakery, Inc. is a corporation located at 21 Penn St in Fall River, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $7,412,100.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$7.41M

Jobs Retained:

0 Unreported

Loan Approved:

2020-04-29

Lender:

CITIZENS BANK, NATIONAL ASSOCIATION

Gold Medal Bakery, Inc. received a Paycheck Protection Loan of $7.41M through CITIZENS BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Gold Medal Bakery, Inc.'s total 2019 payroll expenses were approximately $35.58M in order to qualify for the PPP loan amount received.

Unlike most businesses, Gold Medal Bakery, 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 Gold Medal Bakery, 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 - Gold Medal Bakery, Inc. in Fall River, MA

Gold Medal Bakery, Inc.
21 Penn St
Fall River, MA 2724

Business Industry

Commercial Bakeries (NAICS code 311812)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MA-09

Similar Companies near Fall River

In the Fall River area, 3 businesses in the "Commercial Bakeries" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 0) and received an average PPP loan of $2,505,652 (compared to this company's $7.41M).

Industry PPP Comparison Statistics

Nationwide, 2,425 businesses in the "Commercial Bakeries" industry received a total of $481,514,310.00 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 22 employees, and received an average PPP loan of $198,563, 97% lower than this company's loan of $7.41M.

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.

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/gold-medal-bakery-inc-fall-river-ma