PPP Loan Data — Hines Farms LLC, High Springs, FL
Hines Farms LLC is a limited liability company (LLC) located at 1019 Ne 90th Ave in High Springs, Florida that received a Coronavirus-related PPP loan from the SBA of $25,445.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Cross River Bank
Hines Farms LLC in High Springs, FL received a Paycheck Protection Loan of $25,445 through Cross River Bank, which was approved in May, 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, Hines Farms LLC's 2019 payroll expenses are estimated to be at least $122,136.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $61,068 per employee1
Reported PPP Proceed Usage:
On the PPP application, Hines Farms LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,445
Business Information - Hines Farms LLC in High Springs, FL
1019 Ne 90th Ave
High Springs, FL 32643
All Other Grain Farming
NAICS code 111199
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 39,476 businesses in the "All Other Grain Farming" industry received a total of $778.27M 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 2 employees, the same amount reported by Hines Farms LLC and received an average PPP loan of $19,715, 23% lower than this company's loan of $25,445.
FederalPay's PPP Information Policy
Footnotes & Information
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