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PPP Loan Data — Holmes Foods, Inc, Nixon, TX

SBA PPP loan data, payroll data, and salaries for Holmes Foods, Inc
TX

Holmes Foods, Inc

Entity: Corporation

Industry: Poultry Processing

Location: Nixon, TX

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Holmes Foods, Inc is a corporation located at 101 South Liberty Ave in Nixon, Texas that received a Coronavirus-related PPP loan from the SBA of $3,896,100.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.9M

Jobs Retained:

250

Loan Approved:

2020-04-04

Lender:

SAGE CAPITAL BANK

Holmes Foods, Inc in Nixon, TX received a Paycheck Protection Loan of $3.9M through SAGE CAPITAL BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Holmes Foods, Inc's total 2019 payroll expenses were approximately $18.7M in order to qualify for the PPP loan amount received.

Based on their reported 250 jobs retained, this equals an estimated average yearly compensation of $74,805 per employee1.

Because the loan received by Holmes Foods, Inc is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Holmes Foods, Inc in Nixon, TX

Holmes Foods, Inc
101 South Liberty Ave
Nixon, TX 78140

Business Industry

Poultry Processing (NAICS code 311615)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: TX-34

Industry PPP Comparison Statistics

Nationwide, 213 businesses in the "Poultry Processing" industry received a total of $148,516,793.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 68 employees, 73% lower than Holmes Foods, Inc's reported 250 employees, and received an average PPP loan of $697,262, 82% lower than this company's loan of $3.9M.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan. All information displayed on this page is publicly available information under PPP loan guidelines, and is published unmodified, as provided by the SBA.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.


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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/holmes-foods-inc-nixon-tx