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PPP Loan Data — Kayem Foods Inc, Chelsea, MA

SBA PPP loan data, payroll data, and salaries for Kayem Foods Inc
MA

Kayem Foods Inc

Entity: Corporation

Industry: Meat Processed from Carcasses

Location: Chelsea, MA

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Kayem Foods Inc is a corporation located at 75 Arlington St in Chelsea, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $5,791,169.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$5.79M

Jobs Retained:

393

Loan Approved:

2020-04-15

Lender:

BANK OF AMERICA, NATIONAL ASSOCIATION

Kayem Foods Inc in Chelsea, MA received a Paycheck Protection Loan of $5.79M through BANK OF AMERICA, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Kayem Foods Inc's total 2019 payroll expenses were approximately $27.8M in order to qualify for the PPP loan amount received.

Based on their reported 393 jobs retained, this equals an estimated average yearly compensation of $70,732 per employee1.

Because the loan received by Kayem Foods Inc 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 - Kayem Foods Inc in Chelsea, MA

Kayem Foods Inc
75 Arlington St
Chelsea, MA 2150

Business Industry

Meat Processed from Carcasses (NAICS code 311612)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MA-07

Industry PPP Comparison Statistics

Nationwide, 867 businesses in the "Meat Processed from Carcasses" industry received a total of $314,630,695.00 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 35 employees, 91% lower than Kayem Foods Inc's reported 393 employees, and received an average PPP loan of $362,896, 94% lower than this company's loan of $5.79M.

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.

Search FederalPay's Full PPP Loan Database

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/kayem-foods-inc-chelsea-ma