PPP Loan Data — Warnock Food Products, Madera, CA
Warnock Food Products is a corporation located at 20237 Masa Street in Madera, California that received a Coronavirus-related PPP loan from the SBA of $1,565,266.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Wells Fargo Bank, National Association
Warnock Food Products in Madera, CA received a Paycheck Protection Loan of $1.57M through Wells Fargo Bank, National Association, which was approved in May, 2020.
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, Warnock Food Products' 2019 payroll expenses are estimated to be at least $7.51M.
Based on their reported 168 jobs retained, this equals an estimated average yearly compensation of $44,722 per employee1
Reported PPP Proceed Usage:
On the PPP application, Warnock Food Products reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,565,266
Business Information - Warnock Food Products in Madera, CA
20237 Masa Street
Madera, CA 93638
Other Snack Food Manufacturing
NAICS code 311919
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Madera
In the Madera area, 2 businesses in the "Other Snack Food Manufacturing" industry received a PPP loan. These local businesses reported an average of 95 employees (compared to this company's 168) and received an average PPP loan of $1,015,231 (compared to this company's $1.57M).
Similar Nearby Businesses Who Received PPP Funding:
California Custom Processing LLC
Industry PPP Comparison Statistics
Nationwide, 1,936 businesses in the "Other Snack Food Manufacturing" industry received a total of $197.28M 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 11 employees, 93% lower than Warnock Food Products' reported 168 employees, and received an average PPP loan of $101,899, 93% lower than this company's loan of $1.57M.
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Footnotes & Information
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