PPP Loan Data — Vanee Foods Company, Berkeley, IL
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
Lender:CIBC BANK USA
Vanee 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
Specialty Canning (NAICS code 311422)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: IL-04
Similar 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.
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.
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Footnotes & Information
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