PPP Loan Data — Superior Foods, LLC, Providence, RI
Superior Foods, LLC is a subchapter s corporation located at 458 Cranston Street in Providence, Rhode Island that received a Coronavirus-related PPP loan from the SBA of $46,300.00 in May, 2020.
The company has reported itself as a White male owned business, and employed at least six people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Superior Foods, LLC in Providence, RI received a Paycheck Protection Loan of $46,300 through Centreville Bank, which was approved in May, 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 December, 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, Superior Foods, LLC's 2019 payroll expenses are estimated to be at least $222,240.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $37,040 per employee1
Reported PPP Proceed Usage:
On the PPP application, Superior Foods, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,300
Business Information - Superior Foods, LLC in Providence, RI
458 Cranston Street
Providence, RI 2907
NAICS code 445120
Business Owner Demographics
Ethnicity: Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Providence
In the Providence area, 9 businesses in the "Convenience Stores" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 6) and received an average PPP loan of $19,365 (compared to this company's $46,300).
Similar Nearby Businesses Who Received PPP Funding:
221 Academy Ave Meat Inc
A & B Convenience & Deli, Inc
Sophias Market Inc
Industry PPP Comparison Statistics
Nationwide, 30,055 businesses in the "Convenience Stores" industry received a total of $856.22M 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 6 employees, the same amount reported by Superior Foods, LLC and received an average PPP loan of $28,488, 38% lower than this company's loan of $46,300.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!