PPP Loan Data — Family Tree Farms Inc, Reedley, CA
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
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.
Business Information - Family Tree Farms Inc in Reedley, CA
41646 Rd. 62
Reedley, CA 93654
Other Noncitrus Fruit Farming (NAICS code 111339)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional 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).
Similar Nearby Businesses Who Received PPP Funding:
Moonlight Packing Company LLC
Peters Fruit Farms, Inc.
Troy Jackson Farms
Huerta Family Farms Inc.
KMJ AG, Inc
R & D Farms LLC
Rio Vista Fruit Farms
E & D Farms, Inc.
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.
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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