PPP Loan Data — Holiday Food Center, Inc, Royal Oak, MI
Holiday Food Center, Inc
Entity: Limited Liability Company (LLC)
Location: Royal Oak, MITweet This • Search All PPP Data
Holiday Food Center, Inc is a limited liability company (LLC) located at 1203 S Main St in Royal Oak, Michigan that received a Coronavirus-related PPP loan from the SBA of $1,596,525.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:The Huntington National Bank
Holiday Food Center, Inc in Royal Oak, MI received a Paycheck Protection Loan of $1.6M through The Huntington National Bank, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in June, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
Based on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, Holiday Food Center, Inc's 2019 payroll expenses are estimated to be at least $7.66M.
Based on their reported 305 jobs retained, this equals an estimated average yearly compensation of $25,126 per employee1
Reported PPP Proceed Usage:
On the PPP application, Holiday Food Center, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,596,525
Business Information - Holiday Food Center, Inc in Royal Oak, MI
1203 S Main St
Royal Oak, MI 48067
Supermarkets and Other Grocery (except Convenience) Stores
NAICS code 445110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Royal Oak
In the Royal Oak area, 7 businesses in the "Supermarkets and Other Grocery (except Convenience) Stores" industry received a PPP loan. These local businesses reported an average of 51 employees (compared to this company's 305) and received an average PPP loan of $267,493 (compared to this company's $1.6M).
Similar Nearby Businesses Who Received PPP Funding:
Wilson's Market Inc
Royal Oak, MI
Buscemi Enterprises Inc
Shariq Kamran Inc
Royal Oak, MI
Industry PPP Comparison Statistics
Nationwide, 25,599 businesses in the "Supermarkets and Other Grocery (except Convenience) Stores" industry received a total of $2.27B in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 18 employees, 94% lower than Holiday Food Center, Inc's reported 305 employees, and received an average PPP loan of $88,740, 94% lower than this company's loan of $1.6M.
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Footnotes & Information
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