PPP Loan Data — Jerry Huffman, Wilkesboro, NC
Jerry Huffman is a sole proprietorship located at 287 Cactus Ln in Wilkesboro, North Carolina that received a Coronavirus-related PPP loan from the SBA of $24,825.00 in January, 2021.
The company has reported itself as a White male owned business, and employed at least eight people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:First National Bank of Pennsylvania
Jerry Huffman in Wilkesboro, NC received a Paycheck Protection Loan of $24,825 through First National Bank of Pennsylvania, which was approved in January, 2021.
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, Jerry Huffman's 2019 payroll expenses are estimated to be at least $119,160.
Based on their reported 8 jobs retained, this equals an estimated average yearly compensation of $14,895 per employee1
Reported PPP Proceed Usage:
On the PPP application, Jerry Huffman reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,825
Business Information - Jerry Huffman in Wilkesboro, NC
287 Cactus Ln
Wilkesboro, NC 28697
Timber Tract Operations
NAICS code 113110
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
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 Wilkesboro
In the Wilkesboro area, 2 businesses in the "Timber Tract Operations" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 8) and received an average PPP loan of $18,490 (compared to this company's $24,825).
Similar Nearby Businesses Who Received PPP Funding:
Justin Donnelly Logging LLC
Industry PPP Comparison Statistics
Nationwide, 3,335 businesses in the "Timber Tract Operations" industry received a total of $179.51M 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, 25% lower than Jerry Huffman's reported 8 employees, and received an average PPP loan of $53,826, 117% higher than this company's loan of $24,825.
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Footnotes & Information
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