Loffredo Gardens, Inc. in Des Moines, IA - SBA PPP Loan Data (Paycheck Protection Program)

PPP Loan Data — Loffredo Gardens, Inc., Des Moines, IA

Loffredo Gardens, Inc.

Entity: Corporation

Industry: Perishable Prepared Food Manufacturing

Location: Des Moines, IA

Loffredo Gardens, Inc. is a corporation located at 4001 Sw 63rd Street in Des Moines, Iowa that received a Coronavirus-related PPP loan from the SBA of $4,809,613.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$4.81M

Jobs Retained:

469

Loan Approved:

2020-04-07

Lender:

WEST BANK

Loffredo Gardens, Inc. received a Paycheck Protection Loan of $4.81M through WEST BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Loffredo Gardens, Inc.'s total 2019 payroll expenses were approximately $23.09M in order to qualify for the PPP loan amount received.

Based on their reported 469 jobs retained, this equals an estimated average yearly compensation of $49,224 per employee¹.

Because the loan received by Loffredo Gardens, 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 - Loffredo Gardens, Inc. in Des Moines, IA

Loffredo Gardens, Inc.
4001 Sw 63rd Street
Des Moines, IA 50321

Business Industry

Perishable Prepared Food Manufacturing (NAICS code 311991)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: IA-03

Industry PPP Comparison Statistics

Nationwide, 917 businesses in the "Perishable Prepared Food Manufacturing" industry received a total of $218,265,244.00 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 22 employees, 95% lower than Loffredo Gardens, Inc.'s reported 469 employees, and received an average PPP loan of $238,021, 95% lower than this company's loan of $4.81M.

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.

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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