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PPP Loan Data — KB Food Enterprises, Inc, Paterson, NJ

SBA PPP loan data, payroll data, and salaries for KB Food Enterprises, Inc
NJ

KB Food Enterprises, Inc

Entity: Partnership

Industry: Commercial Bakeries

Location: Paterson, NJ

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KB Food Enterprises, Inc is a partnership located at 100 6th Avenue in Paterson, New Jersey that received a Coronavirus-related PPP loan from the SBA of $402,107.00 in April, 2020.

The company has reported itself as a White male owned business, and employed at least 71 people during the applicable loan loan period.

$ PPP Loan Information
Loan #1646957208

Loan Size:

$402,107

Jobs Retained:

71

Loan Approved:

2020-04-15

Loan Status:

Paid in Full or Forgiven

Lender:

TD Bank, National Association

KB Food Enterprises, Inc in Paterson, NJ received a Paycheck Protection Loan of $402,107 through TD Bank, National Association, 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 September, 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 More
Understanding 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 More

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, KB Food Enterprises, Inc's 2019 payroll expenses are estimated to be at least $1.93M.

Based on their reported 71 jobs retained, this equals an estimated average yearly compensation of $27,185 per employee1

Reported PPP Proceed Usage:

On the PPP application, KB Food Enterprises, Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $402,107

Business Information - KB Food Enterprises, Inc in Paterson, NJ

KB Food Enterprises, Inc
100 6th Avenue
Paterson, NJ 7544

Business Industry:
Commercial Bakeries
NAICS code 311812

Business Owner Demographics

Race: White

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: N

Rural / Urban: Urban

Passaic County, NJ — SBA Office 0299 — Congressional District: NJ-08

Similar Companies near Paterson

In the Paterson area, 2 businesses in the "Commercial Bakeries" industry received a PPP loan. These local businesses reported an average of 144 employees (compared to this company's 71) and received an average PPP loan of $1,043,961 (compared to this company's $402,107).

Similar Nearby Businesses Who Received PPP Funding:

Kontos Foods Inc
Paterson, NJ

$1.69M PPP Loan

Industry PPP Comparison Statistics

Nationwide, 4,534 businesses in the "Commercial Bakeries" industry received a total of $666.8M 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 19 employees, 73% lower than KB Food Enterprises, Inc's reported 71 employees, and received an average PPP loan of $147,067, 63% lower than this company's loan of $402,107.

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.

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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.


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Source: www.federalpay.org/paycheck-protection-program/kb-food-enterprises-inc-paterson-nj