PPP Loan Data — Hobbit Hollow Farms LLC, Syracuse, NY
Hobbit Hollow Farms LLC is a limited liability company (LLC) located at 333 West Washington Street Ste 600 in Syracuse, New York that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Manufacturers and Traders Trust Company
Hobbit Hollow Farms LLC in Syracuse, NY received a Paycheck Protection Loan of $25,000 through Manufacturers and Traders Trust Company, which was approved in April, 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 March, 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, Hobbit Hollow Farms LLC's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Hobbit Hollow Farms LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $22,000
- Utilities: $1,000
- Mortgage Interest: $2,000
Business Information - Hobbit Hollow Farms LLC in Syracuse, NY
333 West Washington Street Ste 600
Syracuse, NY 13202
All Other Miscellaneous Crop Farming
NAICS code 111998
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, 27,661 businesses in the "All Other Miscellaneous Crop Farming" industry received a total of $1.14B 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 6 employees, 50% higher than Hobbit Hollow Farms LLC's reported 4 employees, and received an average PPP loan of $41,062, 64% higher than this company's loan of $25,000.
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Footnotes & Information
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