FederalPay.org
PPP Loan Data — Vanee Foods Company,
Berkeley, IL
Vanee Foods Company
Entity: Subchapter S Corporation
Industry: Specialty Canning
Location: Berkeley, IL
Tweet This
•
Search All PPP Data
Vanee Foods Company is a subchapter s corporation located at 5418 Mcdermott Drive in Berkeley, Illinois that received a Coronavirus-related PPP loan from the SBA of $2,803,900.00 in April, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
164Loan Approved:
2020-04-07Lender:
CIBC BANK USAVanee Foods Company in Berkeley, IL received a Paycheck Protection Loan of $2.8M through CIBC BANK USA, which was approved in April, 2020.
Based on standard PPP eligibility rules, Vanee Foods Company's total 2019 payroll expenses were approximately $13.46M in order to qualify for the PPP loan amount received.
Based on their reported 164 jobs retained, this equals an estimated average yearly compensation of $82,065 per employee1.
Business Information - Vanee Foods Company in Berkeley, IL
5418 Mcdermott Drive
Berkeley, IL 60163
Business Industry
Specialty Canning (NAICS code 311422)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: IL-04Similar Companies near Berkeley
In the Berkeley area, 2 businesses in the "Specialty Canning" industry received a PPP loan. These local businesses reported an average of 223 employees (compared to this company's 164) and received an average PPP loan of $2,640,350 (compared to this company's $2.8M).
Similar Nearby Businesses Who Received PPP Funding:
Joseph's Food Products Company Inc.
Berkeley, IL
Industry PPP Comparison Statistics
Nationwide, 122 businesses in the "Specialty Canning" industry received a total of $29,197,518.00 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 20 employees, 88% lower than Vanee Foods Company's reported 164 employees, and received an average PPP loan of $239,324, 91% lower than this company's loan of $2.8M.
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.
Have FederalPay.org's open data tools been valuable? Consider donating!