PPP Loan Data — Reichel Foods, Inc., Rochester, MN
Reichel Foods, Inc. is a corporation located at 3706 Enterprise Dr in Rochester, Minnesota that received a Coronavirus-related PPP loan from the SBA of $3,370,253.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 375 people during the applicable loan loan period.
$ PPP Loan Information
Lender:HOME FEDERAL SAVINGS BANK
Reichel Foods, Inc. in Rochester, MN received a Paycheck Protection Loan of $3.37M through HOME FEDERAL SAVINGS BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Reichel Foods, Inc.'s total 2019 payroll expenses were approximately $16.18M in order to qualify for the PPP loan amount received.
Based on their reported 375 jobs retained, this equals an estimated average yearly compensation of $43,139 per employee1.
Business Information - Reichel Foods, Inc. in Rochester, MN
3706 Enterprise Dr
Rochester, MN 55902
Other Snack Food Manufacturing (NAICS code 311919)
Business Owner Demographics
Race / Ethnicity: WHITE
Gender: MALE OWNED
Veteran Status: NON-VETERANCongressional District: MN-01
Industry PPP Comparison Statistics
Nationwide, 616 businesses in the "Other Snack Food Manufacturing" industry received a total of $147,174,433.00 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 22 employees, 94% lower than Reichel Foods, Inc.'s reported 375 employees, and received an average PPP loan of $238,920, 93% lower than this company's loan of $3.37M.
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Footnotes & Information
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