PPP Loan Data — Sgfw Bakers Inc, Brooklyn, NY
Sgfw Bakers Inc
Location: Brooklyn, NYTweet This • Search All PPP Data
Sgfw Bakers Inc is a corporation located at 5700 Ave D in Brooklyn, New York that received a Coronavirus-related PPP loan from the SBA of $1,523,357.00 in May, 2020.
The company has reported itself as a male owned business, and employed at least 202 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bank of America, National Association
Sgfw Bakers Inc in Brooklyn, NY received a Paycheck Protection Loan of $1.52M through Bank of America, National Association, which was approved in May, 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, Sgfw Bakers Inc's 2019 payroll expenses are estimated to be at least $7.31M.
Based on their reported 202 jobs retained, this equals an estimated average yearly compensation of $36,199 per employee1
Reported PPP Proceed Usage:
On the PPP application, Sgfw Bakers Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,523,357
Business Information - Sgfw Bakers Inc in Brooklyn, NY
5700 Ave D
Brooklyn, NY 11203
Other Grocery and Related Products Merchant Wholesalers
NAICS code 424490
Business Owner Demographics
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Brooklyn
In the Brooklyn area, 11 businesses in the "Other Grocery and Related Products Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 30 employees (compared to this company's 202) and received an average PPP loan of $242,770 (compared to this company's $1.52M).
Similar Nearby Businesses Who Received PPP Funding:
Chef's Choice Cash & Carry Food Distributor, Inc
Blue Star Food And Paper Inc
Act Distributors Inc
Ecomeal Organic, Inc
1760 Food Inc
National Better Bags Inc
Industry PPP Comparison Statistics
Nationwide, 8,316 businesses in the "Other Grocery and Related Products Merchant Wholesalers" industry received a total of $872.2M 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 12 employees, 94% lower than Sgfw Bakers Inc's reported 202 employees, and received an average PPP loan of $104,882, 93% lower than this company's loan of $1.52M.
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