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PPP Loan Data — Hanson Cold Storage Co.,
Saint Joseph, MI
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:
265Loan Approved:
2020-04-11Lender:
JPMORGAN CHASE BANK, NATIONAL ASSOCIATIONHanson 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.
Business Information - Hanson Cold Storage Co. in Saint Joseph, MI
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-06Industry 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.
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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