PPP Loan Data — Delta Springs, LLC, Mount Solon, VA
Delta Springs, LLC is a limited liability company (LLC) located at 1142 Freemason Run Rd in Mount Solon, Virginia that received a Coronavirus-related PPP loan from the SBA of $25,416.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least three people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Farmers & Merchants Bank
Delta Springs, LLC in Mount Solon, VA received a Paycheck Protection Loan of $25,416 through Farmers & Merchants Bank, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in February, 2021.
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, Delta Springs, LLC's 2019 payroll expenses are estimated to be at least $121,997.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,666 per employee1
Reported PPP Proceed Usage:
On the PPP application, Delta Springs, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,416
Business Information - Delta Springs, LLC in Mount Solon, VA
1142 Freemason Run Rd
Mount Solon, VA 22843
Nursery, Garden Center, and Farm Supply Stores
NAICS code 444220
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Mount Solon
In the Mount Solon area, 2 businesses in the "Nursery, Garden Center, and Farm Supply Stores" industry received a PPP loan. These local businesses reported an average of 7 employees (compared to this company's 3) and received an average PPP loan of $28,358 (compared to this company's $25,416).
Similar Nearby Businesses Who Received PPP Funding:
MT Jackson Farm Service, LLC
Mount Jackson, VA
Industry PPP Comparison Statistics
Nationwide, 7,240 businesses in the "Nursery, Garden Center, and Farm Supply Stores" industry received a total of $689.88M 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 14 employees, 367% higher than Delta Springs, LLC's reported 3 employees, and received an average PPP loan of $95,287, 275% higher than this company's loan of $25,416.
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Footnotes & Information
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