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PPP Loan Data — Family Tree Farms Inc, Reedley, CA

SBA PPP loan data, payroll data, and salaries for Family Tree Farms Inc
CA

Family Tree Farms Inc

Entity: Cooperative

Industry: Other Noncitrus Fruit Farming

Location: Reedley, CA

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Family Tree Farms Inc is a cooperative located at 41646 Rd. 62 in Reedley, California that received a Coronavirus-related PPP loan from the SBA of $2,582,867.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.58M

Jobs Retained:

499

Loan Approved:

2020-04-29

Lender:

BANK OF THE WEST

Family Tree Farms Inc in Reedley, CA received a Paycheck Protection Loan of $2.58M through BANK OF THE WEST, which was approved in April, 2020.

Based on standard PPP eligibility rules, Family Tree Farms Inc's total 2019 payroll expenses were approximately $12.4M in order to qualify for the PPP loan amount received.

Based on their reported 499 jobs retained, this equals an estimated average yearly compensation of $24,845 per employee1.

Because the loan received by Family Tree Farms Inc is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Family Tree Farms Inc in Reedley, CA

Family Tree Farms Inc
41646 Rd. 62
Reedley, CA 93654

Business Industry

Other Noncitrus Fruit Farming (NAICS code 111339)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: CA-22

Similar Companies near Reedley

In the Reedley area, 9 businesses in the "Other Noncitrus Fruit Farming" industry received a PPP loan. These local businesses reported an average of 129 employees (compared to this company's 499) and received an average PPP loan of $1,147,883 (compared to this company's $2.58M).

Industry PPP Comparison Statistics

Nationwide, 931 businesses in the "Other Noncitrus Fruit Farming" industry received a total of $114,935,001.00 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 23 employees, 95% lower than Family Tree Farms Inc's reported 499 employees, and received an average PPP loan of $123,453, 95% lower than this company's loan of $2.58M.

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.

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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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/family-tree-farms-inc-reedley-ca