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PPP Loan Data — Kent Quality Foods, Hudsonville, MI

SBA PPP loan data, payroll data, and salaries for Kent Quality Foods
MI

Kent Quality Foods

Entity: Corporation

Industry: Meat Processed from Carcasses

Location: Hudsonville, MI

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Kent Quality Foods is a corporation located at 3426 Quincy St in Hudsonville, Michigan that received a Coronavirus-related PPP loan from the SBA of $3,493,000.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.49M

Jobs Retained:

250

Loan Approved:

2020-04-04

Lender:

MERCANTILE BANK OF MICHIGAN

Kent Quality Foods in Hudsonville, MI received a Paycheck Protection Loan of $3.49M through MERCANTILE BANK OF MICHIGAN, which was approved in April, 2020.

Based on standard PPP eligibility rules, Kent Quality Foods' total 2019 payroll expenses were approximately $16.77M in order to qualify for the PPP loan amount received.

Based on their reported 250 jobs retained, this equals an estimated average yearly compensation of $67,066 per employee1.

Because the loan received by Kent Quality Foods 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 - Kent Quality Foods in Hudsonville, MI

Kent Quality Foods
3426 Quincy St
Hudsonville, MI 49426

Business Industry

Meat Processed from Carcasses (NAICS code 311612)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MI-02

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, 86% lower than Kent Quality Foods' reported 250 employees, and received an average PPP loan of $362,896, 90% lower than this company's loan of $3.49M.

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.

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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/kent-quality-foods-hudsonville-mi