PPP Loan Data — Schafer Enterprises, LLC, Saint Paul, MN
Schafer Enterprises, LLC is a limited liability company (LLC) located at 3701 Blackhawk Rd in Saint Paul, Minnesota that received a Coronavirus-related PPP loan from the SBA of $47,111.00 in April, 2020. This business is a Beef Jerky Outlet franchise.
The company has reported itself as a White female owned business, and employed at least eight people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:First Bank of the Lake
Schafer Enterprises, LLC in Saint Paul, MN received a Paycheck Protection Loan of $47,111 through First Bank of the Lake, 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 May, 2021.
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, Schafer Enterprises, LLC's 2019 payroll expenses are estimated to be at least $226,133.
Based on their reported 8 jobs retained, this equals an estimated average yearly compensation of $28,267 per employee1
Reported PPP Proceed Usage:
On the PPP application, Schafer Enterprises, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $47,111
Business Information - Schafer Enterprises, LLC in Saint Paul, MN
3701 Blackhawk Rd
Saint Paul, MN 55122
NAICS code 445210
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Non-Veteran
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Saint Paul
In the Saint Paul area, 2 businesses in the "Meat Markets" industry received a PPP loan. These local businesses reported an average of 8 employees (compared to this company's 8) and received an average PPP loan of $47,162 (compared to this company's $47,111).
Similar Nearby Businesses Who Received PPP Funding:
Minsk Market Inc
Saint Paul, MN
Industry PPP Comparison Statistics
Nationwide, 4,261 businesses in the "Meat Markets" industry received a total of $247.79M 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 10 employees, 25% higher than Schafer Enterprises, LLC's reported 8 employees, and received an average PPP loan of $58,154, 23% higher than this company's loan of $47,111.
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Footnotes & Information
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