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PPP Loan Data — Tony Downs Foods Co,
Mankato, MN
Tony Downs Foods Co
Entity: Subchapter S Corporation
Industry: Poultry Processing
Location: Mankato, MN
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Tony Downs Foods Co is a subchapter s corporation located at 54934 210th Lane in Mankato, Minnesota that received a Coronavirus-related PPP loan from the SBA of $4,331,200.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 434 people during the applicable loan loan period.
$ PPP Loan Information
Loan Size:
Jobs Retained:
434Loan Approved:
2020-04-09Lender:
BMO HARRIS BANK NATIONAL ASSOCIATIONTony Downs Foods Co in Mankato, MN received a Paycheck Protection Loan of $4.33M through BMO HARRIS BANK NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Tony Downs Foods Co's total 2019 payroll expenses were approximately $20.79M in order to qualify for the PPP loan amount received.
Based on their reported 434 jobs retained, this equals an estimated average yearly compensation of $47,903 per employee1.
Business Information - Tony Downs Foods Co in Mankato, MN
54934 210th Lane
Mankato, MN 56001
Business Industry
Poultry Processing (NAICS code 311615)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: MALE OWNED
Veteran Status: Unreported
Congressional District: MN-01Similar Companies near Mankato
In the Mankato area, 2 businesses in the "Poultry Processing" industry received a PPP loan. These local businesses reported an average of 238 employees (compared to this company's 434) and received an average PPP loan of $2,545,650 (compared to this company's $4.33M).
Similar Nearby Businesses Who Received PPP Funding:
Downs Food Group, Inc.
Mankato, MN
Industry PPP Comparison Statistics
Nationwide, 213 businesses in the "Poultry Processing" industry received a total of $148,516,793.00 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 68 employees, 84% lower than Tony Downs Foods Co's reported 434 employees, and received an average PPP loan of $697,262, 84% lower than this company's loan of $4.33M.
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, and is published unmodified, as provided by the SBA.
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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