PPP Loan Data — Gould Farms, Teton, ID
Gould Farms is a partnership located at 16 S. 2nd W. in Teton, Idaho that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least five people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:The Bank of Commerce
Gould Farms in Teton, ID received a Paycheck Protection Loan of $25,000 through The Bank of Commerce, 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, Gould Farms' 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $24,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Gould Farms reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Gould Farms in Teton, ID
16 S. 2nd W.
Teton, ID 83451
NAICS code 111211
Business Owner Demographics
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Teton
In the Teton area, 3 businesses in the "Potato Farming" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 5) and received an average PPP loan of $31,400 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Industry PPP Comparison Statistics
Nationwide, 2,808 businesses in the "Potato Farming" industry received a total of $229.75M 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 12 employees, 140% higher than Gould Farms' reported 5 employees, and received an average PPP loan of $81,821, 227% higher than this company's loan of $25,000.
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