PPP Loan Data — Southwind Foods, LLC, Long Beach, CA
Southwind Foods, LLC
Entity: Limited Liability Company (LLC)
Location: Long Beach, CATweet This • Search All PPP Data
Southwind Foods, LLC is a limited liability company (LLC) located at 20644 S Fordyce Ave in Long Beach, California that received a Coronavirus-related PPP loan from the SBA of $1,822,500.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Southwind Foods, LLC in Long Beach, CA received a Paycheck Protection Loan of $1.82M through Umpqua 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, Southwind Foods, LLC's 2019 payroll expenses are estimated to be at least $8.75M.
Based on their reported 128 jobs retained, this equals an estimated average yearly compensation of $68,344 per employee1
Reported PPP Proceed Usage:
On the PPP application, Southwind Foods, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,822,500
Business Information - Southwind Foods, LLC in Long Beach, CA
20644 S Fordyce Ave
Long Beach, CA 90810
Other Grocery and Related Products Merchant Wholesalers
NAICS code 424490
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Long Beach
In the Long Beach area, 2 businesses in the "Other Grocery and Related Products Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 65 employees (compared to this company's 128) and received an average PPP loan of $914,007 (compared to this company's $1.82M).
Similar Nearby Businesses Who Received PPP Funding:
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, 91% lower than Southwind Foods, LLC's reported 128 employees, and received an average PPP loan of $104,882, 94% lower than this company's loan of $1.82M.
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Footnotes & Information
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