PPP Loan Data — Milk & Honey Granola, LLC, Chicago, IL
Milk & Honey Granola, LLC is a limited liability company (LLC) located at 627 North Albany Avenue Suite 170 in Chicago, Illinois that received a Coronavirus-related PPP loan from the SBA of $25,400.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least six people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Milk & Honey Granola, LLC in Chicago, IL received a Paycheck Protection Loan of $25,400 through Byline Bank, 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 March, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
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, Milk & Honey Granola, LLC's 2019 payroll expenses are estimated to be at least $121,920.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $20,320 per employee1
Reported PPP Proceed Usage:
On the PPP application, Milk & Honey Granola, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,400
Business Information - Milk & Honey Granola, LLC in Chicago, IL
627 North Albany Avenue Suite 170
Chicago, IL 60612
Breakfast Cereal Manufacturing
NAICS code 311230
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 136 businesses in the "Breakfast Cereal Manufacturing" industry received a total of $9.2M 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 8 employees, 33% higher than Milk & Honey Granola, LLC's reported 6 employees, and received an average PPP loan of $67,622, 166% higher than this company's loan of $25,400.
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Footnotes & Information
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