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PPP Loan Data — Virginia Dare Extract Co., Inc.,
Brooklyn, NY
Virginia Dare Extract Co., Inc.
Entity: Corporation
Industry: Spice and Extract Manufacturing
Location: Brooklyn, NY
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Virginia Dare Extract Co., Inc. is a corporation located at 882 Third Avenue in Brooklyn, New York that received a Coronavirus-related PPP loan from the SBA of $2,830,790.00 in April, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
170Loan Approved:
2020-04-10Lender:
JPMORGAN CHASE BANK, NATIONAL ASSOCIATIONVirginia Dare Extract Co., Inc. in Brooklyn, NY received a Paycheck Protection Loan of $2.83M through JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Virginia Dare Extract Co., Inc.'s total 2019 payroll expenses were approximately $13.59M in order to qualify for the PPP loan amount received.
Based on their reported 170 jobs retained, this equals an estimated average yearly compensation of $79,928 per employee1.
Business Information - Virginia Dare Extract Co., Inc. in Brooklyn, NY
882 Third Avenue
Brooklyn, NY 11232
Business Industry
Spice and Extract Manufacturing (NAICS code 311942)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: NY-07Industry PPP Comparison Statistics
Nationwide, 305 businesses in the "Spice and Extract Manufacturing" industry received a total of $69,173,361.00 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 19 employees, 89% lower than Virginia Dare Extract Co., Inc.'s reported 170 employees, and received an average PPP loan of $226,798, 92% lower than this company's loan of $2.83M.
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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