PPP Loan Data — Flory Industries, Salida, CA
Flory Industries is a corporation located at 4737 Toomes Rd in Salida, California that received a Coronavirus-related PPP loan from the SBA of $3,961,112.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bank of America, National Association
Flory Industries in Salida, CA received a Paycheck Protection Loan of $3.96M through Bank of America, National Association, which was approved in May, 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 July, 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, Flory Industries' 2019 payroll expenses are estimated to be at least $19.01M.
Based on their reported 310 jobs retained, this equals an estimated average yearly compensation of $61,333 per employee1
Reported PPP Proceed Usage:
On the PPP application, Flory Industries reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $3,961,112
Business Information - Flory Industries in Salida, CA
4737 Toomes Rd
Salida, CA 95368
Farm Machinery and Equipment Manufacturing
NAICS code 333111
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 1,668 businesses in the "Farm Machinery and Equipment Manufacturing" industry received a total of $395.52M 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 21 employees, 93% lower than Flory Industries' reported 310 employees, and received an average PPP loan of $237,124, 94% lower than this company's loan of $3.96M.
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Footnotes & Information
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