PPP Loan Data — Weinbrenner Shoe Company Inc, Merrill, WI
Weinbrenner Shoe Company Inc is an employee stock ownership plan(esop) located at 108 Polk St in Merrill, Wisconsin that received a Coronavirus-related PPP loan from the SBA of $4,071,500.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Weinbrenner Shoe Company Inc in Merrill, WI received a Paycheck Protection Loan of $4.07M through IncredibleBank, which was approved in April, 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, Weinbrenner Shoe Company Inc's 2019 payroll expenses are estimated to be at least $19.54M.
Based on their reported 314 jobs retained, this equals an estimated average yearly compensation of $62,239 per employee1
Reported PPP Proceed Usage:
On the PPP application, Weinbrenner Shoe Company Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $4,071,500
Business Information - Weinbrenner Shoe Company Inc in Merrill, WI
108 Polk St
Merrill, WI 54452
NAICS code 316210
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 649 businesses in the "Footwear Manufacturing" industry received a total of $96.42M 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 15 employees, 95% lower than Weinbrenner Shoe Company Inc's reported 314 employees, and received an average PPP loan of $148,563, 96% lower than this company's loan of $4.07M.
FederalPay's PPP Information Policy
Footnotes & Information
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