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PPP Loan Data — Steuben Foods, Inc., Elma, NY

SBA PPP loan data, payroll data, and salaries for Steuben Foods, Inc.
NY

Steuben Foods, Inc.

Entity: Corporation

Industry: Fluid Milk Manufacturing

Location: Elma, NY

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Steuben Foods, Inc. is a corporation located at 1150 Maple Road in Elma, New York that received a Coronavirus-related PPP loan from the SBA of $8,133,700.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$8.13M

Jobs Retained:

500

Loan Approved:

2020-04-09

Lender:

BMO HARRIS BANK NATIONAL ASSOCIATION

Steuben Foods, Inc. received a Paycheck Protection Loan of $8.13M through BMO HARRIS BANK NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Steuben Foods, Inc.'s total 2019 payroll expenses were approximately $39.04M in order to qualify for the PPP loan amount received.

Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $78,084 per employee1.

Because the loan received by Steuben Foods, Inc. is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Steuben Foods, Inc. in Elma, NY

Steuben Foods, Inc.
1150 Maple Road
Elma, NY 14059

Business Industry

Fluid Milk Manufacturing (NAICS code 311511)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: NY-27

Similar Companies near Elma

In the Elma area, 2 businesses in the "Fluid Milk Manufacturing" industry received a PPP loan. These local businesses reported an average of 266 employees (compared to this company's 500) and received an average PPP loan of $4,353,700 (compared to this company's $8.13M).

Similar Nearby Businesses Who Received PPP Funding:

Elmhurst Milked, LLC
Elma, NY

$573,700 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 204 businesses in the "Fluid Milk Manufacturing" industry received a total of $121,641,804.00 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 46 employees, 91% lower than Steuben Foods, Inc.'s reported 500 employees, and received an average PPP loan of $596,283, 93% lower than this company's loan of $8.13M.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.

All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.


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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/steuben-foods-inc-elma-ny