PPP Loan Data — Pearson Candy Company, Saint Paul, MN
Pearson Candy Company
Location: Saint Paul, MNTweet This • Search All PPP Data
Pearson Candy Company is a corporation located at 2140 West 7th St in Saint Paul, Minnesota that received a Coronavirus-related PPP loan from the SBA of $2,070,267.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:First Business Bank
Pearson Candy Company in Saint Paul, MN received a Paycheck Protection Loan of $2.07M through First Business Bank, which was approved in April, 2020.
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, Pearson Candy Company's 2019 payroll expenses are estimated to be at least $9.94M.
Based on their reported 155 jobs retained, this equals an estimated average yearly compensation of $64,111 per employee1
Reported PPP Proceed Usage:
On the PPP application, Pearson Candy Company reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,070,267
Business Information - Pearson Candy Company in Saint Paul, MN
2140 West 7th St
Saint Paul, MN 55116
Confectionery Manufacturing from Purchased Chocolate
NAICS code 311352
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: Y
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 756 businesses in the "Confectionery Manufacturing from Purchased Chocolate" industry received a total of $132.9M 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 23 employees, 85% lower than Pearson Candy Company's reported 155 employees, and received an average PPP loan of $175,793, 92% lower than this company's loan of $2.07M.
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Footnotes & Information
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