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PPP Loan Data — Nature's Sunshine Products Inc,
Lehi, UT
Nature's Sunshine Products Inc
Entity: Corporation
Industry: All Other Miscellaneous Food Manufacturing
Location: Lehi, UT
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Nature's Sunshine Products Inc is a corporation located at 2901 W Bluegrass Blvd Ste 100 in Lehi, Utah that received a Coronavirus-related PPP loan from the SBA of $5,373,870.00 in April, 2020.
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PPP Loan Information
Loan #7415097101
Loan Size:
Jobs Retained:
471Loan Approved:
2020-04-14Loan Status:
Paid in Full or ForgivenLender:
Bank of America, National AssociationNature's Sunshine Products Inc in Lehi, UT received a Paycheck Protection Loan of $5.37M through Bank of America, National Association, 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 January, 2021.
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 MoreUnderstanding 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 MoreBased 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, Nature's Sunshine Products Inc's 2019 payroll expenses are estimated to be at least $25.79M.
Based on their reported 471 jobs retained, this equals an estimated average yearly compensation of $54,766 per employee1
Reported PPP Proceed Usage:
On the PPP application, Nature's Sunshine Products Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $5,373,870
Business Information - Nature's Sunshine Products Inc in Lehi, UT
2901 W Bluegrass Blvd Ste 100
Lehi, UT 84043
Business Industry:
All Other Miscellaneous Food Manufacturing
NAICS code 311999
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age:
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Lehi
In the Lehi area, 6 businesses in the "All Other Miscellaneous Food Manufacturing" industry received a PPP loan. These local businesses reported an average of 94 employees (compared to this company's 471) and received an average PPP loan of $987,345 (compared to this company's $5.37M).
Similar Nearby Businesses Who Received PPP Funding:
Aspen Copak
Lindon, UT
Ready Menu LLC
Lindon, UT
PKU Perspectives LLC
Lindon, UT
Links Product Development Group LLC
Ut, UT
TKS Co-Pack Manufacturing
Lindon, UT
Industry PPP Comparison Statistics
Nationwide, 4,602 businesses in the "All Other Miscellaneous Food Manufacturing" industry received a total of $548.57M 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 14 employees, 97% lower than Nature's Sunshine Products Inc's reported 471 employees, and received an average PPP loan of $119,203, 98% lower than this company's loan of $5.37M.
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.
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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