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PPP Loan Data — Hanson Cold Storage Co., Saint Joseph, MI

SBA PPP loan data, payroll data, and salaries for Hanson Cold Storage Co.

Hanson Cold Storage Co.

Entity: Subchapter S Corporation

Industry: Refrigerated Warehousing and Storage

Location: Saint Joseph, MI

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Hanson Cold Storage Co. is a subchapter s corporation located at 440 Renaissance Dr. in Saint Joseph, Michigan that received a Coronavirus-related PPP loan from the SBA of $3,975,142.00 in April, 2020.

$ PPP Loan Information

Loan Size:


Jobs Retained:


Loan Approved:




Hanson Cold Storage Co. in Saint Joseph, MI received a Paycheck Protection Loan of $3.98M through JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Hanson Cold Storage Co.'s total 2019 payroll expenses were approximately $19.08M in order to qualify for the PPP loan amount received.

Based on their reported 265 jobs retained, this equals an estimated average yearly compensation of $72,003 per employee1.

Because the loan received by Hanson Cold Storage Co. 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 - Hanson Cold Storage Co. in Saint Joseph, MI

Hanson Cold Storage Co.
440 Renaissance Dr.
Saint Joseph, MI 49085

Business Industry

Refrigerated Warehousing and Storage (NAICS code 493120)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MI-06

Industry PPP Comparison Statistics

Nationwide, 412 businesses in the "Refrigerated Warehousing and Storage" industry received a total of $125,401,778.00 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 24 employees, 91% lower than Hanson Cold Storage Co.'s reported 265 employees, and received an average PPP loan of $304,373, 92% lower than this company's loan of $3.98M.

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.

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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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