PPP Loan Data — The Fillo Factory, Inc, Northvale, NJ
The Fillo Factory, Inc is a corporation located at 10 Fairway Ct in Northvale, New Jersey that received a Coronavirus-related PPP loan from the SBA of $2,089,100.00 in June, 2020.
The company has reported itself as a White male owned business, and employed at least 345 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
The Fillo Factory, Inc in Northvale, NJ received a Paycheck Protection Loan of $2.09M through ConnectOne Bank, which was approved in June, 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 June, 2021.
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, The Fillo Factory, Inc's 2019 payroll expenses are estimated to be at least $10.03M.
Based on their reported 345 jobs retained, this equals an estimated average yearly compensation of $29,066 per employee1
Reported PPP Proceed Usage:
On the PPP application, The Fillo Factory, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,089,100
Business Information - The Fillo Factory, Inc in Northvale, NJ
10 Fairway Ct
Northvale, NJ 7647
Perishable Prepared Food Manufacturing
NAICS code 311991
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 2,142 businesses in the "Perishable Prepared Food Manufacturing" industry received a total of $304.73M 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 17 employees, 95% lower than The Fillo Factory, Inc's reported 345 employees, and received an average PPP loan of $142,266, 93% lower than this company's loan of $2.09M.
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Footnotes & Information
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