PPP Loan Data — HCM Farms Partners, Cherry Valley, AR
HCM Farms Partners is a partnership located at 113 County Road 303 in Cherry Valley, Arkansas that received a Coronavirus-related PPP loan from the SBA of $46,100.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
HCM Farms Partners in Cherry Valley, AR received a Paycheck Protection Loan of $46,100 through Simmons Bank, which was approved in April, 2020.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
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, HCM Farms Partners' 2019 payroll expenses are estimated to be at least $221,280.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $36,880 per employee1
Reported PPP Proceed Usage:
On the PPP application, HCM Farms Partners reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,100
Business Information - HCM Farms Partners in Cherry Valley, AR
113 County Road 303
Cherry Valley, AR 72324
NAICS code 111160
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Cherry Valley
In the Cherry Valley area, 3 businesses in the "Rice Farming" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 6) and received an average PPP loan of $32,444 (compared to this company's $46,100).
Similar Nearby Businesses Who Received PPP Funding:
Mcgee AG Services, Inc
Cherry Valley, AR
Cherry Valley, AR
Industry PPP Comparison Statistics
Nationwide, 1,851 businesses in the "Rice Farming" industry received a total of $53.83M 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 3 employees, 50% lower than HCM Farms Partners' reported 6 employees, and received an average PPP loan of $29,082, 37% lower than this company's loan of $46,100.
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