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PPP Loan Data — Otto Candies, LLC, Des Allemands, LA

SBA PPP loan data, payroll data, and salaries for Otto Candies, LLC
LA

Otto Candies, LLC

Entity: Subchapter S Corporation

Industry: Deep Sea Freight Transportation

Location: Des Allemands, LA

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Otto Candies, LLC is a subchapter s corporation located at 17271 Highway 90 in Des Allemands, Louisiana that received a Coronavirus-related PPP loan from the SBA of $4,752,400.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$4.75M

Jobs Retained:

232

Loan Approved:

2020-04-12

Lender:

HANCOCK WHITNEY BANK

Otto Candies, LLC in Des Allemands, LA received a Paycheck Protection Loan of $4.75M through HANCOCK WHITNEY BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Otto Candies, LLC's total 2019 payroll expenses were approximately $22.81M in order to qualify for the PPP loan amount received.

Based on their reported 232 jobs retained, this equals an estimated average yearly compensation of $98,326 per employee1.

Because the loan received by Otto Candies, LLC 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 - Otto Candies, LLC in Des Allemands, LA

Otto Candies, LLC
17271 Highway 90
Des Allemands, LA 70030

Business Industry

Deep Sea Freight Transportation (NAICS code 483111)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: LA-02

Industry PPP Comparison Statistics

Nationwide, 319 businesses in the "Deep Sea Freight Transportation" industry received a total of $70,130,048.00 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 13 employees, 94% lower than Otto Candies, LLC's reported 232 employees, and received an average PPP loan of $219,843, 95% lower than this company's loan of $4.75M.

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, and is published unmodified, as provided by the SBA.

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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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/otto-candies-llc-des-allemands-la