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PPP Loan Data — Golden Krust Caribbean Bakery,, Bronx, NY

SBA PPP loan data, payroll data, and salaries for Golden Krust Caribbean Bakery,
NY

Golden Krust Caribbean Bakery,

Entity: Corporation

Industry: Perishable Prepared Food Manufacturing

Location: Bronx, NY

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Golden Krust Caribbean Bakery, is a corporation located at 3958 Park Ave in Bronx, New York that received a Coronavirus-related PPP loan from the SBA of $3,177,588.00 in April, 2020.

The company has reported itself as a Black or african american male owned business, and employed at least 216 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$3.18M

Jobs Retained:

216

Loan Approved:

2020-04-12

Lender:

BANK OF AMERICA, NATIONAL ASSOCIATION

Golden Krust Caribbean Bakery, received a Paycheck Protection Loan of $3.18M through BANK OF AMERICA, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Golden Krust Caribbean Bakery,'s total 2019 payroll expenses were approximately $15.25M in order to qualify for the PPP loan amount received.

Based on their reported 216 jobs retained, this equals an estimated average yearly compensation of $70,613 per employee1.

Because the loan received by Golden Krust Caribbean Bakery, 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 - Golden Krust Caribbean Bakery, in Bronx, NY

Golden Krust Caribbean Bakery,
3958 Park Ave
Bronx, NY 10457

Business Industry

Perishable Prepared Food Manufacturing (NAICS code 311991)

Business Owner Demographics

Race / Ethnicity: BLACK OR AFRICAN AMERICAN

Gender: MALE OWNED

Veteran Status: NON-VETERAN

Congressional District: NY-15

Industry PPP Comparison Statistics

Nationwide, 917 businesses in the "Perishable Prepared Food Manufacturing" industry received a total of $218,265,244.00 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, 90% lower than Golden Krust Caribbean Bakery,'s reported 216 employees, and received an average PPP loan of $238,021, 93% lower than this company's loan of $3.18M.

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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Source: www.federalpay.org/paycheck-protection-program/golden-krust-caribbean-bakery-bronx-ny