PPP Loan Data — Quality Snack Foods, Inc, Alsip, IL
Quality Snack Foods, Inc is a corporation located at 3750 W 131st Street in Alsip, Illinois that received a Coronavirus-related PPP loan from the SBA of $1,851,900.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Quality Snack Foods, Inc in Alsip, IL received a Paycheck Protection Loan of $1.85M through Busey 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 December, 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, Quality Snack Foods, Inc's 2019 payroll expenses are estimated to be at least $8.89M.
Based on their reported 182 jobs retained, this equals an estimated average yearly compensation of $48,841 per employee1
Reported PPP Proceed Usage:
On the PPP application, Quality Snack Foods, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,388,925
- Rent: $462,975
Business Information - Quality Snack Foods, Inc in Alsip, IL
3750 W 131st Street
Alsip, IL 60803
Other Snack Food Manufacturing
NAICS code 311919
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Alsip
In the Alsip area, 3 businesses in the "Other Snack Food Manufacturing" industry received a PPP loan. These local businesses reported an average of 62 employees (compared to this company's 182) and received an average PPP loan of $633,155 (compared to this company's $1.85M).
Similar Nearby Businesses Who Received PPP Funding:
SSI Go Picnic LLC
Industry PPP Comparison Statistics
Nationwide, 1,936 businesses in the "Other Snack Food Manufacturing" industry received a total of $197.28M 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 11 employees, 94% lower than Quality Snack Foods, Inc's reported 182 employees, and received an average PPP loan of $101,899, 94% lower than this company's loan of $1.85M.
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Footnotes & Information
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