FederalPay.org
PPP Loan Data — International Gourmet Foods Inc,
Springfield, VA
International Gourmet Foods Inc
Entity: Corporation
Industry: Other Grocery and Related Products Merchant Wholesalers
Location: Springfield, VA
Tweet This
•
Search All PPP Data
International Gourmet Foods Inc is a corporation located at 7520 Fullerton Rd in Springfield, Virginia that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in January, 2021.
The company has reported itself as a male owned business, and employed at least 235 people during the applicable loan loan period.
$
PPP Loan Information
Loan #7884908301
Loan Size:
Jobs Retained:
235Loan Approved:
2021-01-28Loan Status:
Ongoing LoanLender:
United BankInternational Gourmet Foods Inc in Springfield, VA received a Paycheck Protection Loan of $2M through United Bank, which was approved in January, 2021.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, International Gourmet Foods Inc's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 235 jobs retained, this equals an estimated average yearly compensation of $40,851 per employee1
Reported PPP Proceed Usage:
On the PPP application, International Gourmet Foods Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,998
- Utilities: $1
Business Information - International Gourmet Foods Inc in Springfield, VA
7520 Fullerton Rd
Springfield, VA 22153
Business Industry:
Other Grocery and Related Products Merchant Wholesalers
NAICS code 424490
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Springfield
In the Springfield area, 4 businesses in the "Other Grocery and Related Products Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 63 employees (compared to this company's 235) and received an average PPP loan of $516,852 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Mesoamerica LLC
West Springfield, VA
China International Distributing Company Inc
Springfield, VA
KAM Ying Trading Corp
Springfield, VA
Industry PPP Comparison Statistics
Nationwide, 8,203 businesses in the "Other Grocery and Related Products Merchant Wholesalers" industry received a total of $868.54M 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 12 employees, 95% lower than International Gourmet Foods Inc's reported 235 employees, and received an average PPP loan of $105,881, 95% lower than this company's loan of $2M.
International Gourmet Foods, Inc
Entity: Corporation
Industry: Poultry and Poultry Product Merchant Wholesalers
Location: Springfield, VA
Tweet This
•
Search All PPP Data
International Gourmet Foods, Inc is a corporation located at 7520 Fullerton Road in Springfield, Virginia that received a Coronavirus-related PPP loan from the SBA of $2,593,000.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 235 people during the applicable loan loan period.
$
PPP Loan Information
Loan #4811077300
Loan Size:
Jobs Retained:
235Loan Approved:
2020-04-30Loan Status:
Paid in Full or ForgivenLender:
United BankInternational Gourmet Foods, Inc in Springfield, VA received a Paycheck Protection Loan of $2.59M through United 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 July, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, International Gourmet Foods, Inc's 2019 payroll expenses are estimated to be at least $12.45M.
Based on their reported 235 jobs retained, this equals an estimated average yearly compensation of $52,963 per employee1
Reported PPP Proceed Usage:
On the PPP application, International Gourmet Foods, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,593,000
Business Information - International Gourmet Foods, Inc in Springfield, VA
7520 Fullerton Road
Springfield, VA 22153
Business Industry:
Poultry and Poultry Product Merchant Wholesalers
NAICS code 424440
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Springfield
In the Springfield area, 2 businesses in the "Poultry and Poultry Product Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 119 employees (compared to this company's 235) and received an average PPP loan of $1,305,087 (compared to this company's $2.59M).
Similar Nearby Businesses Who Received PPP Funding:
New On Hsing Corporation
Springfield, VA
Industry PPP Comparison Statistics
Nationwide, 672 businesses in the "Poultry and Poultry Product Merchant Wholesalers" industry received a total of $90.39M 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 15 employees, 94% lower than International Gourmet Foods, Inc's reported 235 employees, and received an average PPP loan of $134,516, 95% lower than this company's loan of $2.59M.
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. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
Footnotes & Information
1. Estimations for informational purposes only. 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.
Have FederalPay.org's open data tools been valuable? Consider donating!