PPP Loan Data — Smith Frozen Foods Inc, Weston, OR
Smith Frozen Foods Inc is a corporation located at 101 Depot St in Weston, Oregon that received a Coronavirus-related PPP loan from the SBA of $3,454,434.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Smith Frozen Foods Inc in Weston, OR received a Paycheck Protection Loan of $3.45M through Northwest 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, Smith Frozen Foods Inc's 2019 payroll expenses are estimated to be at least $16.58M.
Based on their reported 350 jobs retained, this equals an estimated average yearly compensation of $47,375 per employee1
Reported PPP Proceed Usage:
On the PPP application, Smith Frozen Foods Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $3,454,434
Business Information - Smith Frozen Foods Inc in Weston, OR
101 Depot St
Weston, OR 97886
All Other Miscellaneous Food Manufacturing
NAICS code 311999
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 3,419 businesses in the "All Other Miscellaneous Food Manufacturing" industry received a total of $516M 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 18 employees, 95% lower than Smith Frozen Foods Inc's reported 350 employees, and received an average PPP loan of $150,920, 96% lower than this company's loan of $3.45M.
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Footnotes & Information
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