PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — MRS Strattons Salads Inc, Birmingham, AL

ALERT: There are 2 PPP loans for a total of $5.02M in our database for businesses with the name "MRS Strattons Salads Inc" in Birmingham, AL. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for MRS Strattons Salads Inc
AL

MRS Strattons Salads Inc

Entity: Corporation

Industry: Perishable Prepared Food Manufacturing

Location: Birmingham, AL

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MRS Strattons Salads Inc is a corporation located at 380 Industrial Ln in Birmingham, Alabama that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in January, 2021.

$ PPP Loan Information
Loan #8735958306

Loan Size:

$2M

Jobs Retained:

152

Loan Approved:

2021-01-30

Loan Status:

Ongoing Loan

Lender:

First Horizon Bank

MRS Strattons Salads Inc in Birmingham, AL received a Paycheck Protection Loan of $2M through First Horizon Bank, which was approved in January, 2021.

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.

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, MRS Strattons Salads Inc's 2019 payroll expenses are estimated to be at least $9.6M.

Based on their reported 152 jobs retained, this equals an estimated average yearly compensation of $63,158 per employee1

Reported PPP Proceed Usage:

On the PPP application, MRS Strattons Salads Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,999,996
  • Utilities: $1
Because the loan received by MRS Strattons Salads 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 - MRS Strattons Salads Inc in Birmingham, AL

MRS Strattons Salads Inc
380 Industrial Ln
Birmingham, AL 35211

Business Industry:
Perishable Prepared Food Manufacturing
NAICS code 311991

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Jefferson County, AL — SBA Office 0459 — Congressional District: AL-07

Industry PPP Comparison Statistics

Nationwide, 2,142 businesses in the "Perishable Prepared Food Manufacturing" industry received a total of $304.73M 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 17 employees, 89% lower than MRS Strattons Salads Inc's reported 152 employees, and received an average PPP loan of $142,266, 93% lower than this company's loan of $2M.

SBA PPP loan data, payroll data, and salaries for MRS Stratton's Salads Inc
AL

MRS Stratton's Salads Inc

Entity: Corporation

Industry: Perishable Prepared Food Manufacturing

Location: Birmingham, AL

Search All PPP Data

MRS Stratton's Salads Inc is a corporation located at Po Box 190187 in Birmingham, Alabama that received a Coronavirus-related PPP loan from the SBA of $3,016,722.00 in April, 2020.

$ PPP Loan Information
Loan #7511187006

Loan Size:

$3.02M

Jobs Retained:

165

Loan Approved:

2020-04-07

Loan Status:

Ongoing Loan

Lender:

First Horizon Bank

MRS Stratton's Salads Inc in Birmingham, AL received a Paycheck Protection Loan of $3.02M through First Horizon Bank, 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.

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, MRS Stratton's Salads Inc's 2019 payroll expenses are estimated to be at least $14.48M.

Based on their reported 165 jobs retained, this equals an estimated average yearly compensation of $87,759 per employee1

Reported PPP Proceed Usage:

On the PPP application, MRS Stratton's Salads Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $3,016,722
Because the loan received by MRS Stratton's Salads 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 - MRS Stratton's Salads Inc in Birmingham, AL

MRS Stratton's Salads Inc
Po Box 190187
Birmingham, AL 35219

Business Industry:
Perishable Prepared Food Manufacturing
NAICS code 311991

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Jefferson County, AL — SBA Office 0459 — Congressional District: AL-06

Industry PPP Comparison Statistics

Nationwide, 2,142 businesses in the "Perishable Prepared Food Manufacturing" industry received a total of $304.73M 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 17 employees, 90% lower than MRS Stratton's Salads Inc's reported 165 employees, and received an average PPP loan of $142,266, 95% lower than this company's loan of $3.02M.

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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Source: www.federalpay.org/paycheck-protection-program/mrs-strattons-salads-inc-birmingham-al