Medelez Incorporated in Hermiston, OR - SBA PPP Loan Data (Paycheck Protection Program)

PPP Loan Data — Medelez Incorporated, Hermiston, OR

Medelez Incorporated

Entity: Subchapter S Corporation

Industry: General Freight Trucking, Local

Location: Hermiston, OR

Medelez Incorporated is a subchapter s corporation located at 30522 Oldfield St in Hermiston, Oregon that received a Coronavirus-related PPP loan from the SBA of $3,080,500.00 in April, 2020.

The company has reported itself as a White male owned business, and employed at least 230 people during the applicable loan loan period.

$ PPP Loan Information
Loan #3513387100

Loan Size:

$3.08M

Jobs Retained:

230

Loan Approved:

2020-04-11

Loan Status:

Ongoing Loan

Lender:

KeyBank National Association

Medelez Incorporated in Hermiston, OR received a Paycheck Protection Loan of $3.08M through KeyBank National Association, which was approved in April, 2020.

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.

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.

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, Medelez Incorporated's 2019 payroll expenses are estimated to be at least $14.79M.

Based on their reported 230 jobs retained, this equals an estimated average yearly compensation of $64,289 per employee¹

Reported PPP Proceed Usage:

On the PPP application, Medelez Incorporated reported intending to use the proceeds of their PPP loan for the following expenses:

Payroll: $3,080,500

Because the loan received by Medelez Incorporated 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 - Medelez Incorporated in Hermiston, OR

Medelez Incorporated
30522 Oldfield St
Hermiston, OR 97838

Business Industry:
General Freight Trucking, Local
NAICS code 484110

Business Owner Demographics

Race: White

Ethnicity: Hispanic or Latino

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age:

LMI Zone: N

HUBZone: Y

Rural / Urban: Urban

Umatilla County, OR — SBA Office 1086 — Congressional District: OR-02

Similar Companies near Hermiston

In the Hermiston area, 5 businesses in the "General Freight Trucking, Local" industry received a PPP loan. These local businesses reported an average of 62 employees (compared to this company's 230) and received an average PPP loan of $810,571 (compared to this company's $3.08M).

Similar Nearby Businesses Who Received PPP Funding:

Platinum Transportation LLC
Hermiston, OR

$206,732 PPP Loan

Platinum Transportation LLC
Hermiston, OR

$210,795 PPP Loan

JD Gonzalez Trucking LLC
Hermiston, OR

$226,123 PPP Loan

Medelez Custom Harvesting, LLC
Hermiston, OR

$328,706 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 121,560 businesses in the "General Freight Trucking, Local" industry received a total of $5.54B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.

PPP recipients in this industry report an average of 5 employees, 98% lower than Medelez Incorporated's reported 230 employees, and received an average PPP loan of $45,586, 99% lower than this company's loan of $3.08M.

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.

Search FederalPay's Full PPP Loan Database

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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